Spanish licensed trading platform EurocoinPay has teamed up with international payment service Mastercard to issue a cryptocurrency debit card.
According to Mastercard CEO Michael Miebach, the card will help EurocoinPay users make purchases in more than 90 million stores worldwide. EurocoinPay believes that the decision is a step towards making cryptocurrencies useful for customers in any situation.
EurocoinPay CEO Herminio Fernandez de Blas announced that an intermediate product such as a debit card is needed to popularize the cryptocurrency. He is confident that such a move “unites all stores that offer their goods for cryptocurrencies.” This is not about encouraging the trading of cryptocurrencies, but about making purchases for digital assets affordable for the average person.
Card users will be required to comply with EurocoinPay requirements and pass Mastercard control on combating money laundering and terrorist financing. The card will be available to all users of the exchange in the European Union.
Recently, the Binance crypto exchange, together with the Mastercard payment system , announced that they will launch special debit cards for users from Argentina that can be replenished with cryptocurrencies. At the same time, Mastercard does not believe that cryptocurrencies will ever become a means of payment, while stablecoins and digital currencies of the Central Bank, according to company experts, have a better chance.
