Exciting news for crypto enthusiasts in the UK and Europe! Imagine seamlessly spending your Bitcoin, Ethereum, and other digital assets just like traditional currency. Well, that’s now becoming a reality thanks to a groundbreaking launch from Unbanked, in collaboration with Moorwand. Let’s dive into how this new crypto payment card is set to change the game.
What’s the Buzz About the Unbanked Crypto Card?
Unbanked, a global fintech platform built on blockchain technology, has officially launched its highly anticipated crypto payment card across the UK and Europe. This move comes at an interesting time in the cryptocurrency market, which has seen its share of ups and downs recently. However, Unbanked remains confident, seeing this card program as a significant step forward in integrating blockchain technology with everyday financial products.
This isn’t just another crypto card; it’s a strategic partnership with Moorwand, a company that empowers Unbanked to offer these innovative crypto payment solutions. This collaboration ensures a fully approved program, enabling customers to effortlessly use their digital assets for daily spending. If you’re in Europe or the UK, you can head over to Unbanked’s website, Unbanked.com, to sign up and get in on the action.
Daniel Gouldman, Co-Founder and Co-CEO of Unbanked, expressed his enthusiasm: “We have worked for over two years on building this exciting solution to make the Unbanked Card available to interested users in Europe. It’s great to know we’ll be able to offer U.K. and European residents one of the most innovative crypto-powered cards with this launch.”
Key Features of the Unbanked Crypto Payment Card
Let’s break down what makes this card stand out:
- Wide Range of Crypto Support: Cardholders can deposit and spend with a diverse portfolio of 15 different cryptocurrencies. This includes major players like BTC (Bitcoin), ETH (Ethereum), UNI (Uniswap), XLM (Stellar Lumens), and of course, UNBNK, Unbanked’s native token.
- Seamless Crypto-to-Fiat Conversion: Powered by Moorwand, the card cleverly links all your crypto funds. When you make a purchase at a merchant accepting these cards, your digital assets are instantly converted to fiat currency at the point of sale. No complicated exchange processes needed!
- Enhanced Financial and Crypto Services: Beyond just spending, the Unbanked card aims to provide a suite of unique financial, payment, and crypto services, making digital asset access and utilization more convenient and efficient.
Unbanked: Bridging the Gap Between Traditional Finance and Crypto
Founded in 2018, Unbanked’s mission is to broaden financial access and empower individuals with greater control over their finances. They are achieving this by connecting traditional financial systems with the innovative world of blockchain and fintech. Essentially, Unbanked is making digital assets more practical and user-friendly for both investments and everyday transactions.
Their services cater to a wide spectrum of users – from those fully banked to the unbanked and underbanked populations. In just four years, Unbanked has already served hundreds of thousands of customers, demonstrating the growing demand for their solutions. Even notable players in the crypto space are leveraging Unbanked’s infrastructure.
Who Trusts Unbanked?
- Litecoin Foundation
- Nexo
- StormX
- Stacks
These organizations, and more, rely on Unbanked’s secure, private, and compliant infrastructure, highlighting its reliability and suitability for widespread cryptocurrency adoption.
Unbanked is also a registered company with the SEC, further solidifying its commitment to regulatory compliance and building trust within the financial ecosystem. They are dedicated to creating globally accessible and crypto-friendly financial services.
The UNBNK Token: Powering the Unbanked Ecosystem
Unbanked has its own native token, UNBNK, which exists on both the Ethereum and Stellar blockchains. They use a clever “mint-burning” mechanism to balance assets across these chains, ensuring seamless interoperability. Through Unbanked.com, users can even perform 1:1 swaps of UNBNK tokens between these blockchains.
But how does UNBNK integrate with the debit card?
- Spending with UNBNK: When you use the Unbanked debit card, it’s actually UNBNK tokens being spent. Even if you deposit Bitcoin, it’s converted into UNBNK and held on the card until you make a purchase.
- Staking Rewards: Holders who stake UNBNK can earn attractive rewards, ranging from 1% to 6% on their card spending. This incentivizes holding and using the UNBNK token within the Unbanked ecosystem.
- Deflationary Tokenomics: UNBNK has a maximum supply of 1 billion tokens. Interestingly, withdrawals of UNBNK from Unbanked.com incur a 2% deflationary fee. This means that the maximum supply of UNBNK is designed to gradually decrease over time.
The deflationary aspect, coupled with staking rewards, is intended to increase the scarcity and demand for UNBNK tokens. As more people adopt the Unbanked debit card, the demand for UNBNK could rise. Furthermore, staking and locking UNBNK for card rewards reduces the circulating supply, potentially driving up its value.
However, Unbanked also acknowledges a potential scenario: “If card adoption is low, spending may exceed demand, creating more sales pressure than buy pressure.” This highlights the importance of user adoption for the UNBNK token’s ecosystem to thrive.
Unbanked’s Broader Impact and Partnerships
Unbanked isn’t just focused on crypto cards. They work directly with banks and Visa, managing Mastercard’s programs, and even launched AMEX’s first NFT card. This demonstrates their established presence and expertise in the broader payment and financial services industry.
If you’re interested in acquiring UNBNK tokens, they are currently available on decentralized exchanges like Uniswap, Sushiswap, and Lumenswap.
The Future of Crypto Spending is Here
The launch of the Unbanked crypto payment card in the UK and Europe marks a significant step towards mainstream crypto adoption. By simplifying the process of spending digital assets and offering a range of financial services, Unbanked and Moorwand are making cryptocurrency more accessible and practical for everyday use. As the crypto landscape continues to evolve, innovations like this will be crucial in bridging the gap between the digital and traditional financial worlds.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.