A new debit card with cryptocurrencycurrency-to-fiat bridge capabilities has been introduced by the top DEX aggregator, 1inch Network, in collaboration with Mastercard and Crypto Life. The card offers both virtual and physical choices for easy transactions at any ATM.
Christian Rau, Mastercard’s senior vice president of cryptocurrency and fintech enablement, emphasized the need of using this card to bridge the gap between the Web3 and Web2 worlds. The integration of Mastercard technology protects consumers’ security and comfort.
The company’s CEO, Christian Rau, remarked, “Leveraging Mastercard’s leading technology and standards, the 1inch Card is connecting Web2 and Web3 worlds in an innovative way.”
Unlike existing methods of converting cryptocurrencycurrency to fiat, which require many procedures and costs, the 1inch Card streamlines the process, allowing users to keep custody of their assets while paying with a single conversion rate.
While the card is presently available in the UK and Europe, 1inch intends to increase its availability globally, subject to partnerships and regulatory approvals. Orest Gavryliak, the company’s chief legal officer, hinted at further global expansion.
Segej Kunz, co-founder of 1inch, showcased the card’s virtual payment capacity on social media, highlighting its user-friendliness and efficiency.
