Gate.io, Gate Group’s crypto-exchange, has announced the launch of its new Visa debit card in Europe.
Gate.io and the new Visa crypto debit card
The Gate.io crypto-exchange from Gate Group has announced the launch of its new Visa crypto debit card.
Gate Group Launching New Visa Debit Card in Europe
The new Gate Visa debit card offers users a simple method to convert their crypto assets into fiat for in-store and online purchases
Gate Card Waitlist
https://t.co/tArvRIVeN6
More Details: https://t.co/2GY7YECeN3 pic.twitter.com/vhKSShJXB9
— Gate.io (@gate_io) March 9, 2023
The new card was launched through Gate Global UAB, the Group’s Lithuania-based company, which will allow users to convert and spend their cryptocurrencies in the real world without hassle.
Users will be able to use the “Gate Visa Card” at the 80 million merchants that accept Visa worldwide, thereby spending their cryptocurrencies.
Along with the crypto card, users will be able to access the user-friendly feature built into the associated Gate Card app, so they can track and manage their spending.
The crypto debit card “Gate Visa Card”
Gate Group founder and CEO Lin Han commented on the event as follows:
“We are thrilled to introduce this innovative solution to the market. With the Gate Visa card, our users can make seamless crypto payments to merchants worldwide. It bridges crypto with everyday life and brings greater financial inclusion to users.”
Cuy Sheffield, Head of Crypto at Visa, also made a comment:
“Visa wants to serve as the bridge between the crypto ecosystem and our global network of merchants and financial institutions. With programs like the Gate Visa debit card, Gate Group debit cardholders are enabled with a seamless way to convert and use their digital assets to pay for goods and services, anywhere Visa is accepted.”
Currently, the waiting list is only available to countries in the European Economic Area (EEA) and is expected to be expanded to other regions in the future.
Visa circuit resumes launch of cryptocurrency-based products
Apparently, Visa and Mastercard, which had suspended the launch of crypto products, appear to be reactivating, at least Visa and especially in Europe.
And indeed, Gate’s Visa crypto debit card is proof of that.
Yet, it was only 1 March when the two electronic payments giants had halted their participation in this sector, on the grounds that market conditions and regulation were not sustainable.
However, it could be the case that the two giants are only becoming restrained in the US market. And in fact, last month, Visa had also partnered with Wirex in a long-term strategic partnership, dedicating itself to crypto. This is one way of accepting Wirex’s membership with Visa in the UK and APAC.
