Recently, Mastercard announced a new partnership with cryptocurrency company Nexo. With that, the company should launch a new credit card, which will revolutionize the financial system and the lives of consumers who are aware of the innovations in this sector. If you want to know more about this new unique cryptocurrency credit card from Master, keep reading this article.
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According to Raj Dhamodharan, Head of Cryptocurrencies and Blockchain Products and Partnerships at Mastercard, the company recognizes that “digital assets are redefining the financial landscape.” The innovation is currently only available in Europe, and the card is unique in its own right because it does not require the consumer to sell assets when making purchases.
In this way, instead of being a simple prepaid card for Bitcoin and other cryptocurrencies, the new card Mastercard offers a credit limit based on the amount of cryptocurrency deposited in the Nexo do client. It is a type of CBD with less resources.
According to information from Nexo, the new credit card will be accepted by around 92 million merchants around the world. In other words, it will work anywhere Mastercard is accepted. This is one of the main reasons that allows investors to spend more than 80% of the fiat value of their cryptos.
In addition, there are some benefits to owning this new product, some of which are: the card will not require monthly payments, minimum payments or inactivity fees; there will also be no limitations on how much a customer can withdraw or spend from an open line of credit.
With regard to interest on withdrawals, the amount charged is only in relation to the credit that is actually used. Therefore, interest will remain at 0% for those customers who have loans of up to 20% of the limit.
