HomeNewsBankingNexo launched world’s 1st crypto-backed payment card “Nexo Card”

Nexo launched world’s 1st crypto-backed payment card “Nexo Card”

Nexo launched world’s 1st crypto-backed payment card “Nexo Card” – Crypto lender Nexo has teamed up with global payments company Mastercard to launch the world’s first “crypto-backed” payment card.

  • World’s First “Crypto-Backed” Payment Card will be available in selected European countries initially.
  • It will allow users to spend without having to sell their digital assets such as bitcoin, which are used as collateral to back the credit granted.
  • The card can be used at 92 million merchants worldwide where Mastercard is accepted.
  • it requires no minimum repayments, monthly, or inactivity fees. There are no FX fees for up to 20,000 euros per month.
  • Electronic money firm DiPocket is Nexo’s card issuer.

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