Crypterium claims ‘borderless, global’ crypto card first

European FinTech startup Crypterium has launched the Crypterium Card, pitched as the first crypto card available globally.

Operating in the same way as a traditional prepaid card, this is loaded with cryptocurrencies and can be used with online and physical retailers. Up until now, such cards have only been valid in specific countries, regions or retailers, Crypterium states. The recently launched Coinbase Card, for example, is only available to UK citizens.

“One of the major barriers to general crypto acceptance has been the fact that it is very difficult to spend cryptocurrency in the real world, and any solutions offered so far have been confined to specific countries or retailers,” says Steven Parker, CEO at Crypterium.

“But the beauty of cryptocurrencies is that they are designed to be borderless and global. The Crypterium Card lives up to this borderless, global ideal: anyone can apply for one and start using their cryptocurrencies to pay for things in everyday life. This has the potential to take off as quickly as NFC.”

The card is linked to the Crypterium Wallet, a mobile app that lets account holders buy, store and manage multiple currencies, such as Bitcoin, Ethereum, Litecoin, USD Coin and Crypterium’s own CRPT token. A further 11 currencies are expected to be added by the final quarter of 2019. The app can also be used to carry out such standard account functions as blocking and unblocking accounts, changing PINs and tracking expenses.

Crypterium says that it has worked closely with financial regulators around the world to ensure that its offering is compliant with regulations wherever it is accepted.