Support trading bitcoin and other cryptocurrencies investment platform eToro plans to start issuing its own debit cards. Their first owners will be members of eToro Club of great Britain, later the order is open to EU residents and, finally, to everyone who is not a member of the club, writes TechCrunch.
The card Issuer will perform the acquired eToro company Marq Millions license of the operator of electronic money and the main membership in Visa. The transaction value was not disclosed. Marq Millions will be known at eToro Money, the current management of the company will retain their positions.
Also under the deal, eToro will inherit the license of EMI [tooltip: organization-Issuer of e-money] the British FCA (FCA) and the full member of Visa payment system.
According to the publication, planned for release, the map will provide an instant receipt and withdrawal of funds. In eToro note that this way the customer platform will be an additional way to withdraw your profit in Fiat.
Representatives of eToro in December hinted at a possible start of card issuance in the second quarter of this year. Despite the postponement, which could affect pandemic COVID-19, the head and co-founder of eToro, Yoni Assia expects huge interest in the new product from the 14 million registered users of the platform.
We will remind, in April to FINTECH-the Visa to issue debit cards with cash back rewards in bitcoins was joined by the developer of the payment application Fold.
In July on the joint Visa plans to release cards for bitcoin payments reported by the company-developer of the popular Lightning-Zap wallet.
Subsequently, the representatives of Visa declared readiness to actively support the development of digital payments space. The company intends to pay special attention to security and privacy, digital payments and cryptocurrency to support projects and solutions based on the blockchain.