The debit card will allow customers to seamlessly pay with their crypto assets at all merchant stores that accept Visa.
Gate Group, the parent company of leading crypto exchange Gate.io, has announced plans to launch its Gate Visa debit card in Europe. The card will enable customers to seamlessly pay with Shiba Inu (SHIB) and other crypto assets at all 80 million merchant stores that accept Visa.
According to an official announcement today, the company plans to launch the debit card through Gate Global UAB, the Lithuanian-based subsidiary of Gate Group. The official Gate.io Twitter handle promptly called attention to the announcement.
? Gate Group Launching New Visa Debit Card in Europe
The new Gate Visa debit card offers users a simple method to convert their crypto assets into fiat for in-store and online purchases ?
Gate Card Waitlist? https://t.co/tArvRIVeN6
More Details: https://t.co/2GY7YECeN3 pic.twitter.com/vhKSShJXB9
— Gate.io (@gate_io) March 9, 2023
Information provided in the official announcement reveals no data on the wait timeline, but the company has introduced a waitlist exclusive to customers in the European Economic Area (EEA). Gate Group noted that they plan to expand the product to other regions in the foreseeable future.
The card will allow users to seamlessly convert their crypto assets, including SHIB and Bitcoin, to fiat when making in-store and online payments. Gate Group further disclosed plans to release a dedicated app for the card. The app will provide useful features for customers to manage and track their spending.
Gate.io announced support for Shiba Inu in April 2021 following several calls to list the asset. The platform also disclosed plans to list Bone ShibaSwap (BONE) last month, the governance token for ShibaSwap
Visa Comments
Cuy Sheffield, Visa’s Head of Crypto, remarked:
“Visa wants to serve as the bridge between the crypto ecosystem and our global network of merchants… Gate Group debit cardholders are enabled with a seamless way to convert and use their digital assets to pay for goods and services anywhere Visa is accepted.”
The development comes a week after Visa Denied Reuters claims the firm plans to halt its crypto push due to regulatory uncertainty and blowouts. Confirming Visa remains committed to achieving its long-term crypto-focused goals.
As adoption sees an uptick, the crypto card will become the latest in a long line of newly-introduced crypto and Shiba Inu payment solutions. Last August, Binance introduced its crypto card in Argentina shortly after the exchange announced support for Shiba Inu on its cards.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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