Unbanked and Moorwand let customers spend their digital assets at various merchants.
Unbanked, a blockchain-based global fintech platform, launched its crypto payment card in the UK and Europe.
This comes as the cryptocurrency market struggles. Unbanked is confident in its new crypto card programme, which integrates blockchain with traditional banking products.
Moorwand helps Unbanked offer crypto payment cards. This approved programme will let customers spend their digital assets. Unbanked.com lets Europeans and Brits sign up.
They can deposit digital assets and receive a spending card after approval. “We have worked for over two years on building this exciting solution to make the Unbanked Card available to interested users in Europe,” said Unbanked Co-Founder and Co-CEO Daniel Gouldman. 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.”
Unbanked cardholders can deposit 15 cryptocurrencies. BTC, ETH, UNI, XLM, UNBNK. Moorwand’s crypto-backed card will link all crypto funds.
Thus, users can instantly convert digital assets to fiat at merchants that accept the cards. The Unbanked card will also provide unique financial, payment, and crypto services with better digital asset access and use.
Unbanked, founded in 2018, promotes financial access and control. It connects traditional enterprises, banking systems, blockchain infrastructure, and fintech to make digital assets more usable for investing and daily use.
Unbanked provides financial services to banked, unbanked, and underbanked people. Unbanked has served hundreds of thousands of customers in four years. Its investors use its products.
Litecoin Foundation, Nexo, StormX, and Stacks use Unbanked’s secure, private, and compliant infrastructure. This makes Unbanked ideal for global cryptocurrency adoption.
Unbanked, an SEC-registered company founded in 2018, connects legacy financial services with DeFi and cryptocurrencies. The company prioritises global crypto-friendly financial services.
Litecoin Foundation, StormX, Nexo, Stacks, and others use Unbanked’s licenced technology.
Unbank also has its native token UNBNK on Ethereum and Stellar. Unbank balances assets between chains using mint-burning. Unbanked.com allows 1:1 UNBNK token swaps across chains.
Unbank debit cards spend UNBNK tokens. Bitcoin deposits are converted into UNBNK and stored on the card until spent. Staking UNBNK earns 1-6% card spend rewards.
UNBNK has a 1 billion-token supply. UNBNK withdrawals from unbanked.com require a 2% deflationary fee.
Thus, UNBNK’s maximum supply will decline. More Unbak debit card users would increase UNBNK token demand.
Staking and locking UNBNK for card rewards would increase scarcity. Those who trade UNBNK off the platform will burn 2% of tokens, increasing scarcity. The UNBNK token’s best case. “UNBNK is held on the card and “sold” when card holders use the debit card to buy something,” Unbank explained. As the merchant converts BTC to USD, a debit card swipe is a “sale” of UNBNK. If card adoption is low, spending may exceed demand, creating more sales pressure than buy pressure.
Unbank works directly with banks and Visa. They manage Mastercard’s programme and launched AMEX’s first NFT card. Uniswap, Sushiswap, and Lumenswap currently offer UNBNK tokens.
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