Austrian neobroker Bitpanda has partnered with FinTech Contis to issue a new multi-asset debit card.
The Bitpanda Card will bring together Contis’ zero-balance Buffer technology with Bitpanda’s multi-service platform.
The zero balance technology will eliminate the need to liquidate assets before spending and allow Bitpanda users to convert their digital assets to fiat at point-of-sale, both online and in-store, where Visa is accepted.
The Bitpanda Card aims to expand the boundaries of crypto and asset spending therefore allowing users to hold over 55 digital assets, including cryptocurrencies, precious metals and fiat.
Users will be able to link the card to any asset in their Bitpanda portfolio and easily switch to any asset through the app when spending in real-time.
Commenting on the new card, Bitpanda co-founder and CEO Eric Demuth said, “Launching the Bitpanda Card together with Contis is another step in our leading vision of the personal finance revolution, allowing everyone to spend any of their assets, be that with crypto, metals, or fiat, as they please – easily, 24/7.
“No topping up is required. Everything that holds value should be treated equally and should be possible to use as you wish. The Bitpanda Card is the missing piece of the puzzle in the world of digital finance.”
Sharing a similar sentiment, Contis’ executive chairman Peter Cox added, “Combining the practicality of fiat with the benefits of blockchain has helped prove the long-term legitimacy of digital finance. A card that allows seamless spending is one of the leading-edge innovations for crypto accounts.
“We’re seeing considerable uptake among crypto providers for card products that include ‘zero balance’ capabilities.”
In January this year, Bitpanda launched a Visa debit card that integrated assets such as cryptocurrencies, fiat currencies and precious metals onto a single card.
Copyright © 2021 FinTech Global