Intends to Launch Visa Crypto Debit Card in Europe

Sahana Kiran
Source – Pixabay

It looks like Visa’s crypto-related plans wouldn’t be taking a backseat despite the market conditions. Gate Group, the firm behind the prominent cryptocurrency exchange, announced its plans to roll out a Gate Visa crypto debit card.

According to a statement from Gate, a waitlist and registration procedure are currently open for users in the European Economic Area. The card will be launched through the firm’s Lithuania-based company, Gate Global UAB.

Through this move, users will have an easier way to spend their cryptocurrencies at any of the 80 million merchant locations that accept Visa globally. This includes both in-person and online transactions. The card will provide users total control over their spending, with features that are simple to use already included in the Gate Card app that is connected to it.

Dr. Lin Han, founder and CEO of Gate Group highlighted the “innovative solution” that will soon hit the European market. Han stated,

“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.”

Visa doubles down on its crypto efforts

Recently, rumors about Visa limiting its crypto efforts were surfacing. However, Cuy Sheffield, the head of crypto at the payments giant dismissed these tales. The firm’s latest move is proof of the same. Sheffield elaborated on its collaboration with Gate Group and further said,

“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.”

Earlier this week, added Apple Pay support for Visa cards in Brazil.