If you asked the average crypto user, they would tell you that one of their biggest challenges when it comes to using digital assets is the inability to spend them. Sure, it’s one thing when you buy assets speculatively and are looking to make a profit but what about those who just want to buy a coffee or pair of shoes with bitcoin?
Oftentimes, they are unable to as many merchants do not accept cryptocurrency as a method of payment. And even for those who do, the process of transferring tokens is often a hassle. Eventually, many of them give up and simply use fiat currency instead.
Thankfully, the market is responding to this need and filling this gap with new ways to spend crypto with ease. For example, Asian crypto exchange JPEX has formally announced the launch of its new VISA debit card. This card launch comes right on time and about a year after the company first collaborated with Simplex by Nuvei.
With this card launch, its customers will be able to spend their fiat and cryptocurrency with ease. By the end of the year, the company is also expected to release its physical debit card.
JPEX VISA Card Makes a Splash This card development has been a whole year in the making. JPEX first connected with Simplex by Nuvei, an EU-licensed fiat/crypto infrastructure that supports all types of protocols, around a year ago. This collaboration saw JPEX create an on-ramp solution that allows its users to buy cryptocurrency using debit and credit cards. The goal of this was to increase investors’ access to the crypto market by making it easier for them to purchase digital assets.
Now, the company is taking things a step further and allowing users to spend cryptocurrency and fiat with its VISA debit card via Simplex by Nuvei solution. Pre-orders for the card are now open and interested users can apply to receive their physical cards. The cards can be used anywhere VISA is accepted.
This not only opens up JPEX customers to a new world of spending crypto but also allows for low-threshold crypto investments as well. JPEX has already become one of the biggest crypto exchanges in Asia, sponsoring multiple football clubs such as Macarthur FC and the Western Sydney Wanderers while also engaging in mass promotions across the continent. This development is yet another effort by the company to reach more markets and better serve its users.
Being Able to Pay This announcement from JPEX is more than just another crypto-friendly debit card hitting the market; it represents a bridging of the crypto and fiat worlds, which is something the company is committed to doing. By being able to spend crypto as easily as they do fiat, customers do not have to choose between one and the other. Instead, they can co-exist and a wider world of opportunity can be unlocked by both merchants and buyers.
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