Visa to approve Australian startup cryptocurrency card

Visa will reportedly approve Australian cryptocurrency startup cryptospend, which makes debit cards for bitcoins and several other cryptocurrencies. “We are seeing huge demand for the card,” the company says.

Global card giant Visa is expected to announce, later this week, release with approval a physical debit card application Cryptospend allows users to use their own terminal, current terminals, reported, indirect founder and CEO of cryptospend Andrew km.
“This will be the first time cryptocurrencies can be spent with a payment card issued in Australia and running on the network of one of the international card schemes,” the AFR said in a statement on Wednesday.
Cryptospend, launched last October, supports bitcoin, ethereum, lightcoins, bitcoin cash and XRP. Greek detail:

Big demand on the card. Sunday Yesil, someone might say it’s time to spend some of my wife. On the other side of the fence, if anyone else can say it keeps growing, I’ll hold it. But we are seeing an increase in spending as prices rise.

Prior to visa’s approval, Grech and co-founder Richard voice went through a rigorous process to ensure the confidentiality and security of users ‘ information and to comply with money laundering requirements. The storage of the company’s crypto holdings is provided by Bitgo.

Visa also approved Novatti, which is listed on the ASX, to issue a prepaid debit card. The card is expected to be released in September.
Cryptospend is already connected to a new central bank-backed payment platform (NPP) that allows users to move their crypto balances to their bank accounts in Australia, the publication adds, where customers can pay their bills with their crypto balances.
Visa recently said that in the first half of 2021, more than $ 1 billion was spent on Visa cards associated with the cryptocurrency. The company is also working with 50 crypto platforms to allow crypto payers

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