(BlockBar) Financial technology startup based in Estonia Crypterium has launched the Crypterium Card. To be noted, it is the first crypto card available globally. Before this the only crypto cards available were the Coinbase Card. But they were accessible only in specific countries or by region. It was recently announced by Coinbase that it would roll out services to six additional European countries after being only available for users in the U.K.
According to Crypterium, crypto cards are the “easiest and fastest way for holders to access their digital currencies.” It was only concerned to make it a legitimate option for crypto payments on the world stage. According to Matias Lapuschin, “By ‘global’ we mean that no matter where people are based, they can order and receive it in only 3 business days no matter where you are based.”
According to the company a Crypterium Card can be shipped to your door.
To confirm it works as a payment option, the company has already tested the payment services. The testing was done through 5,000 Estonian clients who preordered. Card developers also tested the product while travelling to cryptocurrency conferences across the world. The card is linked to the Crypterium App, which has over 500,000 users in the U.S. and U.K. To be noted, the card does not charge transaction fees, though there is a 1.5% fee when adding prepaid funds.
Crypterium alleges it is fully compliant with U.K. and Estonian laws. According to the company’s website, “The Crypterium Card is a UnionPay prepaid debit card.” The card can be used wherever UnionPay is accepted. “Nowadays, there are nearly 23 million merchants connected to the UnionPay network in over 175 countries.”
Up to now, the company established more than 300 partnerships with e-commerce retail services. Crypterium will expand the coins it offers for the card in time, although it will be selective about the currencies. According to Sharoyan the company is primarily looking at “major cryptocurrencies,” as well as companies “that are prepared to help us promote the product” through co-marketing or partnering to create solutions for their communities.