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1inch Unveils Crypto Debit Card
Decentralized exchange aggregator 1inch has introduced a new crypto debit card in collaboration with payments giant Mastercard and Baanx. The 1inch Crypto Card is designed to empower crypto users for both online and in-person transactions.
Key Features of 1inch Crypto Card:
- Allows seamless cash withdrawals at supported ATMs through crypto-to-fiat conversion
- Enables users to benefit from both DeFi and traditional finance advantages
- Issued in physical and virtual forms
The 1inch card, powered by Baanx’s ‘Crypto Life’ card, offers a convenient way for users to convert cryptocurrencies to fiat for everyday purchases. The card includes a number, validity date, and CVC for secure transactions.
Partnership Details:
- Developed in partnership with Baanx and Mastercard
- Integration of the Crypto Life Card into the 1inch user ecosystem
According to Simon Jones, CCO of Baanx and Crypto Life, the collaboration aims for a successful partnership to enhance the user experience.
Global Accessibility:
- Available for use at any ATM accepting Mastercard globally
- Initial availability in the UK and European Economic Area (EEA) countries
Christian Rau, senior VP of crypto at Mastercard, highlighted the innovative connection between Web2 and Web3 worlds facilitated by the 1inch Card, leveraging Mastercard’s technology and standards.
The 1inch Crypto Card marks a significant advancement in bridging the gap between traditional finance and decentralized finance, offering users a seamless and secure way to utilize their crypto assets for day-to-day transactions.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
