Decentralized finance firm 1inch Network has debuted a new debit card with cryptocurrency to fiat currency bridge functionality. The new card was developed in partnership with MasterCard and Baanx.full functionality including a physical card featuring account number, expiration date, and the “CVC” security code required to conduct some transactions. It will also have a virtual card feature allowing users to conduct transactions digitally where supported.
“We’ve long championed solutions that not only meet customers where they are, but also deliver ubiquity, peace of mind and the highest levels of security. Leveraging Mastercard’s leading technology and standards, the 1inch Card is connecting Web2 and Web3 worlds in an innovative way.” The advent of crypto-to-fiat debit purchases allows users to retain custody of their crypto and web3 funds with a single conversion rate to consider at the point of purchase.As of current, the cards are only available in the United Kingdom and European economic areas. However, according to 1inch, the company is seeking to expand the program.
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