Chain2Pay announced that it will launch a cryptocurrency debit card the up coming months. The company will make the cards for MinexSystems’ another subsidiary MinexPay.
The crypto debit card will work in a similar way to a regular card. However, it will be based on crypto funds instead of a bank account. It can be used for in-store as well as online transactions. It will also support ATM withdrawals.
According to MinexPay, the cards can be used anywhere in the world, even in countries where cryptocurrencies are banned.
Minexsystems CEO Boris Shulyev commented:
“With MinexPay, payments can indeed be made anywhere in the world Visa or MasterCard cards are accepted, as they work the same way.
“The transaction speed is an average of three seconds, because the user does not need to wait for the crypto to exchange to fiat through the exchange. The fund provides that step in advance, so a fiat equivalent is ready to use on demand.”