Giant finance corporations Nexo and MasterCard launched a new crypto card that won’t use your Bitcoin for payments. The Nexo Card liquidity will depend on a preassigned crypto-backed credit line.
Major cryptocurrency loan company Nexo has officially launched a crypto-backed Mastercard card enabling users to pay for services with cryptocurrencies like Bitcoin without selling their crypto.
The card is linked to a Nexo-provided, crypto-backed credit line allowing to use of multiple assets as collateral, including but not limited to Bitcoin, Ether and the Tether stablecoin. Nexo anticipates the Nexo Card to be accepted by 92 million merchants worldwide where Mastercard is accepted, allowing investors to spend up to 90% of the fiat value of their crypto in seconds without selling any of it, the announcement notes.to the company’s website, the Nexo card is available only for residents of 29 countries including Belgium, Cyprus, the Czech Republic, Finland, France, Germany, the United Kingdom and others.
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