Eurocoinpay Partners With Mastercard to Launch One of the First Cryptocurrency Based Cards in Spain – One of the first companies in Spain to offer its own cryptocurrency-based debit card is Eurocoinpay, a cryptocurrency exchange with headquarters in Spain and Bank of Spain registration. The business, which has long been interested in accepting cryptocurrency solutions as payment options, thinks that doing so will enable its clients to use their cryptocurrency assets more effectively.
The CEO of Eurocoinpay, Herminio Fernandez de Blas, thinks that this type of intermediary solution is essential for the spread of cryptocurrencies. This action “consolidates purchases with cryptocurrencies, something that is rapidly being applied in a bigger number of stores that accept these digital assets as a payment method,” he stated.
This card will enable users of Eurocoinpay to make transactions at more than 90 million stores worldwide, according to Mastercard CEO Michael Miebach. The move, in the opinion of Eurocoinpay, will help users use cryptocurrency for a variety of things. According to Fernandez de Blas: “This is one more step to making the use of cryptocurrencies more conventional. It is not about encouraging trading with these virtual currencies, but rather making them available to users so that they can make the decision to use the digital value they prefer as a means of payment.”
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Customers who want to use this card must fulfill Eurocoinpay’s standards and successfully navigate Mastercard’s money laundering measures. All exchange customers in the European Union will have access to the card. The most recent exchange to add products that link fiat currency and cryptocurrencies to its menu of services is Eurocoinpay.
The reason behind this is that credit giants like Visa and Mastercard are now more crypto-friendly than before, allowing financial institutions to offer more comprehensive crypto services.
Some businesses, even those that accept cryptocurrency payments, are still not entirely sold on the idea of using cryptocurrency as a form of payment. Because of its volatility, Mastercard’s CFO Sachin Mehra said in August that the company viewed cryptocurrencies more as an asset class.
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