A small startup in the banking sector – 2Gether – has created a new and interesting debit card on the VISA circuit to make payments using seven cryptocurrencies, including Stellar and EOS, as well as Bitcoin.
This is obviously not the first solution of its kind. Several related cards have already been made available in the past, including Wirex and the famous Coinbase Card.
2Gether, this is the name of the startup and the debit card, allows users to spend their cryptocurrencies in all shops equipped with PoS and websites that accept VISA cards. All without any extra charges on the service.
2Gether, the VISA debit card that allows paying with Bitcoin, EOS, Stellar, Ethereum and other cryptocurrencies
2Gether has announced that its customers can use their card for payments with the associated euro account or with seven different cryptocurrencies.
Supported cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), EOS, Stellar (XLM) and Litecoin (LTC).
The card instantly converts the chosen cryptocurrency into FIAT during payment. It can be used in all 19 countries of the eurozone.
The company said that the debit card aims to facilitate the use of cryptocurrencies in the retail world, offering users the ability to easily buy Bitcoin, Ethereum, Ripple, EOS and the other supported cryptocurrencies in a few simple steps, all from a dedicated smartphone app. It is also possible to send and receive funds among friends and colleagues free of charge.
The 2Gether app is already available for download from the Google Play Store and the Apple Store. The application is currently only available in Spanish and English. At the moment, it is also unclear whether the mobile application will act as a real wallet or not.
It is probable that the cryptocurrencies will have to be deposited in a virtual account, which means that the user won’t have access to the private keys.
The service launched in April, during which time the company started the pre-sale of its 2GT token to its KYC-verified customers.
In order to create an account and apply for a card, it is necessary to purchase at least ten euros of the 2GT token. For more details please consult the official website.
This is a very interesting solution, both for the large number of supported cryptocurrencies, including EOS and Stellar, not present on other debit cards to date, and for the service fees, which, according to the statement, should be minimal, practically equivalent to network fees required for the transfer of cryptocurrencies to the exchange.