Fan Token Platform Socios Announces Prepaid Fiat-Crypto Card

Cooperation between fiat currency card issuers and the blockchain industry appears to be proceeding apace.

On Feb. 24, sports fan token project Socios announced the launch of an integrated membership and fiat-crypto prepaid debit card, which also provides blockchain-based global ID functionality.

Ahead of the product's launch, Socios says it is continuing to review several crypto and non-crypto partners before determining who the card issuer will be.

Live debit card planned for summerAs previously reported, Socios runs a crypto fan token ecosystem, which includes a tokenized voting platform and blockchain-based mobile app.

Once launched, the prepaid card will include this blockchain ID and link directly to users' wallets, enabling them to spend $CHZ, but also other currencies.

The prepaid card will also serve as a membership card, so that it can be used both for regular payments and to redeem blockchain token rewards or access various offers and discounts.

Socios says it plans to follow up the prepaid version with a fully-fledged live debit card this summer, with rollout planned first for the European market, then Latin America, Turkey and Asia.Widening the base.

With major U.S. crypto exchange Coinbase recently announcing its principal membership of Visa, the field of crypto debit cards continues to diversify, making the pitch of a more flexible and familiar, "Legacy" interface for accessing cryptocurrency holdings.

The spread of tokenization into mass industries such as soccer - as well as Coinbase's, Socios' and other crypto debit cards - suggest the once-niche sphere of blockchain is making headway with popularization efforts.

Spanish soccer powerhouse FC Barcelona recently joined Socios to create a token for its franchise, joining the likes of Atlético de Madrid and London-based soccer team West Ham United.