• Gate Group announces the launch of its Visa debit card, to be run by its Lithuania-based subsidiary Gate Global UAB.
• The card will support crypto payments at more than 80 million merchant locations worldwide and feature a tracking and management app.
• This follows Visa’s strategic deal with crypto payments platform Wirex, although the company had paused all crypto-related deals due to market uncertainty and increased regulatory pressure.
Gate Group Announces New Visa Debit Card
The Gate Group has announced their plans for launching a new Visa debit card in Europe. The new venture, Gate Visa debit card, will be run via the company’s Lithuanian subsidiary Gate Global UAB and will be open to users within the European Economic Area (EEA).
Features of the Card
The Gate Visa debit card is designed to enable users to easily spend their cryptocurrencies at over 80 million merchant points globally. It also features a tracking and management app that allows users to monitor their cryptocurrency spending.
Visa Partnerships with Crypto Companies
This collaboration between Visa and Gate.io marks another partnership between a payments giant and a cryptocurrency focused company. In addition, this comes shortly after news reports that Visa had decided to pause all crypto-related deals due to market uncertainty and increased regulatory pressure. However, both companies have stated they are still pursuing their blockchain strategies despite this decision.
Goals of the Partnership
Dr. Lin Han, the founder & CEO of Gate Group commented on the launch of the new visa card stating it is one way of bridging crypto with everyday life as well as ensuring greater financial inclusion for its users. Cuy Sheffield, head of crypto at Visa also discussed how this partnership aims to bring more convenience when it comes to spending cryptocurrencies across different merchants worldwide by providing an easier method for users compared to traditional methods involving exchanges or wallets etc..
In conclusion, this latest collaboration between two giants in the payment industry signifies an important step towards greater adoption of cryptocurrencies across different parts of Europe as well as making it easier for people who want access these digital assets without having worry about complications such as exchange fees or wallet fees etc..