Eurocoinpay partners with Mastercard to launch one of the first cryptocurrency-based cards in Spain

Eurocoinpay, a Spanish cryptocurrency exchange, has closed a deal to offer one of the first cryptocurrency-based debit cards in Spain. The card, which is already available to Eurocoinpay customers, will allow users to purchase products in more than 90 million establishments in the European Union and around the world.

Eurocoinpay aims to introduce crypto payments in Spain

Eurocoinpay, a cryptocurrency exchange based in Spain and registered with the Bank of Spain, has partnered with Mastercard to become one of the first companies in the country to offer its own cryptocurrency-based debit card. The company, which has always been interested in including crypto solutions as payment methods, believes that this will help its clients make better use of crypto assets.

Herminio Fernández de Blas, CEO of Eurocoinpay, believes that this type of intermediate product is necessary to popularize cryptocurrencies. He said that this move “consolidates purchases with cryptocurrencies, something that is increasingly being implemented in a greater number of stores that accept these digital assets as a payment method.”

According to Mastercard CEO Michael Miebach, this card will help Eurocoinpay users make purchases at more than 90 million stores worldwide.

Use of cryptocurrencies as a payment method

Eurocoinpay sees the move as a step in the direction of making cryptocurrencies useful to customers for various purposes. Fernández de Blas explained the following:

“This is one more step to make the use of cryptocurrencies more conventional. It is not about encouraging trade with these virtual currencies, but about making them available to users so that they can make the decision to use the digital value they prefer as a means of payment.”

Customers who want to make use of this card must meet Eurocoinpay requirements and also pass Mastercard money laundering checks. The card will be available to all customers of the exchange in the European Union.

Eurocoinpay is the latest in a long line of exchanges that have expanded their portfolio of services to offer products that link fiat currency and cryptocurrency. The reason behind this is that credit giants like Visa and Mastercard are now more crypto-friendly than before, allowing financial institutions to offer more comprehensive crypto services.

However, even when they support crypto payments, some companies are still not fully sold on the idea of ​​cryptocurrencies as a payment option. In August, Mastercard CFO Sachin Mehra stated that the company viewed crypto more like an asset class due to its volatility.

Reference: news.bitcoin.com

Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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