Crypterium Introduces Global Crypto Payments Card

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Crypterium - a financial technology startup based in Estonia - launched the Crypterium Card, the first crypto card available globally.

It would roll out services to six additional European countries after being only available for users in the U.K. Crypterium believes that crypto cards are the "Easiest and fastest way for holders to access their digital currencies," but were concerned availability was too limited or arbitrary to make it a legitimate option for crypto payments on the world stage.

Card developers also tested the product while travelling to cryptocurrency conferences across the world, using the prepaid plastic to purchase goods and services in bitcoin, ether, and litecoin across the Americas, Asia and Europe, thus confirming the advertised claim of global application, Siranush Sharoyan, company representative, told CoinDesk.

Interest in the card is admittedly concentrated in regions where banking services are less developed, such as in South America and Southeast Asia, according to Sharoyan.

Though she also said there are a number of requests coming from the U.S. The card is linked to the Crypterium App, which has over 500,000 users in the U.S. and U.K. Those that are interested will need to provide proof of identity - passport, national ID or driver's license - and proof of residence in the form of utility bill, bank or credit card statement.

The card does not charge transaction fees, though there is a 1.5% fee when adding prepaid funds.

The crypto card's website states, "The Crypterium Card is a UnionPay prepaid debit card." The card can be used wherever UnionPay is accepted.

"Unlike other players in the market, we opted for UnionPay as a card processor because it's the only one that enables global coverage. Visa and MasterCard work in regions: UK, Central Europe, US, etc.," said Matias Lapuschin, representative for Crypterium.

"The main players in the market are focusing on developed countries, like the UK, US or EEA. That's leaving behind plenty of holders from countries like Venezuela, Brazil, India, South Korea, etc. The Crypterium Card was designed to promote inclusivity in crypto-based financial services," said Lapuschin.

In time, Crypterium will expand the coins it offers for the card, but will be selective about the currencies it selects.

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