BitPay has launched the BitPay Card, the first Mastercard Prepaid card for crypto users in the US. The Card enables customers to instantly convert cryptocurrency into fiat currency, which is then loaded onto the card and can be spent anywhere Mastercard debit is accepted around the world. Customers can also use their cards online for purchases and to withdraw cash from ATMs.
“The BitPay Card offers new benefits and features for consumers making it easier to convert Bitcoin and other cryptocurrency into a spendable balance without currency risk,” comments Stephen Pair, co-founder and CEO of BitPay. “We are excited to expand crypto’s use, while making it easy for businesses to attract new customers who want to spend Bitcoin and offer more places for customers with Bitcoin to shop.”
The Card offers a fast way to convert crypto to fiat currency without conversion fees. The card features an EMV chip that provides added security and is contactless-enabled for payments.
The Card requires the BitPay mobile app and can empower cardholders to reload their card, view transaction history and manage card settings on the go. The Card supports BTC, BCH, ETH, XRP and stable coins USDC, GUSD, PAX and BUSD.
Funds are made available to cardholders in minutes, without having to wait on an exchange to transfer funds. The App not only tracks and manages card spend, but also allows you to purchase crypto and gift cards from popular brands. Applicants for the Card must be at least 18 years old and successfully complete identity and residency verification.