A new cryptocurrency payment alternative has been reported with a Visa debit card, which for now is only available to customers residing in Europe, and allows payments at any merchant or point of sale that supports Visa cards.
Monolith is known as an Ethereum-based banking services company, and has recently reported that its users already have availability of a new product that will allow them to make payments with their DAI stablecoin funds.
The new card is issued by the company allows users to make transactions with DAI anywhere in the world where they accept Visa card payments.
At the moment, the card is only available to customers residing in Europe and allows payments at any store or point of sale that supports Visa cards. Monolith’s plans to incorporate this new service to other continents are unknown at the moment. During a recent statement, Monolith stated:
“As part of this campaign … users will be able to make their daily purchases, pay bills or send money to friends and family … all driven through Ethereum.”
This has been possible thanks to an alliance between Monolith and MakerDAO. However, the debit card is only available to customers residing in Europe.
A peek into Monolith services
Originally, Monolith operated under the name of TokenCard, and also collaborated with other token platforms. One of these cases was with Digix, whose joint work allowed card users to use the DGX cryptocurrency, which each unit represents a gold gram.
Monolith also offers other services that support ERC-20 tokens. Its application is available for devices with iOS operating system, indicating that it will soon release its version for Android smartphones.
More and more companies are launching cards that use bitcoins as a form of payment for their customers. In this way, new services have been developed that include both traditional credit cards (Visa or Mastercard), like debit cards or prepaid cards.
With these tools, not only you can convert your cryptocurrencies into fiat money, but also allows you to manage funds from your wallets, in order to make payments at any establishment that accepts the card. The inclusion of new companies that implement this payment method represents a future full of adoptions and new users.