It appears that Visa‘s cryptocurrency-related ambitions wouldn’t change regardless of the market’s state. The company that runs the well-known cryptocurrency exchange Gate.io, Gate Group, has prepared to introduce a Gate Visa crypto debit card.
According to a statement from Gate, a queue and the registration process are presently available for users in the European Economic Area. The business, Gate Global UAB, with its headquarters in Lithuania, will introduce the card.
Thanks to this change, users will now have a more straightforward method to use their cryptocurrency at any of the 80 million merchant locations worldwide that accept Visa. Both in-person and online transactions fall under this category. The card will provide customers complete control over their spending thanks to user-friendly features that are already included in the GateCard app that is attached to it.
Dr. Lin Han, the founder and CEO of Gate Group emphasized the “new solution” that is about to enter the European market. Han stated,
“With the Gate Visa card, our users can make seamless crypto payments to merchants worldwide. It bridges crypto with everyday life and brings greater financial inclusion to users.”
There have been accusations recently that Visa is restricting its cryptocurrency initiatives. Cuy Sheffield, the head of the cryptocurrency at the multinational payments company, rejected these rumors. The company’s most recent action is evidence of this. Sheffield clarified its partnership with Gate Group and said,
“Visa wants to serve as the bridge between the crypto ecosystem and our global network of merchants and financial institutions. With programs like the Gate Visa debit card, Gate Group debit cardholders are enabled with a seamless way to convert and use their digital assets to pay for goods and services anywhere Visa is accepted.”
This week, Brazilian Visa cards now accept Apple Pay on Crypto.com.