On the 31st of March 2022, SafeMoon (SFM) unveiled one of its most aspirational projects. After its birthday month, the team announced they would launch a card in collaboration with Mastercard. The card was initially planned for a Q2 2022 release. However, a recent update from the team has confirmed that the launch will be postponed.
The team has cited security reasons for the delay. As per a Twitter post by SafeMoon Fabo, the team is awaiting a security feature which is the main reason for the postponement. However, the team assures users and investors that the new security feature is worth waiting for.
The SafeMoon has said that it takes security very seriously, hence deems the launch delay a healthy measure.
The most notable function offered on the card is the quick conversion of cryptocurrency to fiat. Additional features include a Google Pay integration, SafeMoon app compatibility, and a 2.5% transaction charge on payments. For individuals who don’t want to take the chance of carrying a real copy, a virtual card service will be offered on the app.
Customers may use the card to make online purchases from websites like Amazon. On the project’s official discord page, Mr. Adult, SafeMoon’s director of marketing and strategy, confirmed the same.
Those who have used the Binance Visa Card or the Coinbase Card before would be familiar with the validity of using their favorite crypto tokens to pay for products and services. The second-largest card payment company in the world, Visa Inc., powers both of the cards above.
SafeMoon is a popular crypto project that has many ambitious goals ahead. Earlier this year, the team had announced Operation Phoenix. Operation Phoenix is a collection of several ideas housed under one roof rather than a single operation. Nanotechnology and wind turbines are two of the technologies covered by this program.
At press time, SFM was trading at $0.00058534. The token is up by 9.2% in the last 24 hours and 33.1% in the previous seven days. However, the project is still 83.1% down from its all-time high of $0.00338272, which it attained in January of this year.