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For greater global adoption of crypto, payments need to be able to be made across traditional and crypto networks. Kucoin is providing this option with its new Kucard.
Two separate worlds
Currently, two pretty much separate worlds exist; traditional banking and the crypto sector. When these two realms are finally brought together it can be said that crypto adoption has finally reached the masses.
A battleground still exists
With a background of Gary Gensler continuing to lead his Securities and Exchange Commission (SEC) on the warpath against all things crypto, the crypto sector just keeps on building and developing the technology that will one day make things so much easier for the common investor.
Into this state of flux, crypto exchange Kucoin has entered the battleground with its own payments card, allowing its customers to spend their crypto seamlessly anywhere in the world where traditional debit card payments can be made.
Kucoin’s Kucard enables users to spend their cryptocurrency as if it were the fiat currency of the country where the purchase is being made. In fact, the instant conversion of the crypto into the local currency is what enables this to happen.
According to the press release for the Kucard launch, only those customers in the European Economic Area (EEA) will be able to use the card at first. However, a global launch is also planned.
A cashback in cryptocurrency is one of the features that will initially be offered for users. In addition, a Black Friday promotion offers unlimited cashback and a $2,250 bonus.
A seamless bridge
Johnny Lyu, CEO at KuCoin, said of the launch of his company’s new payments card:
"The launch of KuCard represents a significant milestone for both KuCoin and the cryptocurrency industry as a whole, as the daily payment method, the crypto debit card plays a crucial role in accelerating the crypto mass adoption. We are excited to offer users a seamless bridge between digital assets and traditional banking, empowering them to spend their cryptocurrency with ease while enjoying the benefits of a traditional debit card."
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.