BitPay, the blockchain payments provider, has recently launched a prepaid Mastercard for crypto users within the US. This BitPay Card will allow customers to seamlessly convert their various crypto holdings into fiat, which can then be loaded within the card and promptly spent anywhere a Mastercard debit card can be accepted.
Providing Comfort And Convenience
Thes cardholders are also capable of withdrawing USD from various ATMs, as well as use these cards to make online purchases. Stephen Pair, the CEO of BitPay, talked to the press about the card. He explained that this card is targeting crypto holders, in particular, and was developed to serve as a convenient tool to access spending power.
He explained that the true goal of the BitPay Card was to provide convenience in regards to converting crypto to fiat. Pair explained that Bitpay always stood as a payments company. Thus, he explained that this stands as an extension of it: Focusing to give people and companies a convenient method of doing business in the form of crypto.
Besides the fact that the card allows for more comfortable spending of crypto, Pair stated that the inclusion of modern features within these crypto payment cards are paramount. He noted that the BitPay Card had been designed in order to hold all the capabilities that users naturally expect from a standard debit card in modern times.
A Word From Everyone
Tim Montgomery, the vice president of digital partnerships at Mastercard, gave a public statement about the matter, as well. He explained that Mastercard is very keen on focusing on providing flexibility and choice to consumers when it comes to their finances. As some, Montgomery explained that firms like Bitpay, and working with them, will help realize these goals.
He explained that Mastercard helps individuals do transactions in the ways that work best for their needs. As such, Montgomery explained, the global payment provider will continue to collaborate with fintechs to help empower and accommodate consumer choice across the globe.
A New Market Looming
Prepaid cards stand as a whole new market for the crypto industry. This is further reinforced thanks to a survey that Finder had done, which revealed that 36.5 million people in the US own some form of cryptocurrency. The statistics page of Bitpay highlights a similar trend, as it recorded an average of 98,000 Bitcoin transactions processed per month during the year of 2020.