Key message: Visa has approved the issuance of a new crypto debit card in Australia. This continues its commitment to accepting digital currencies. It was announced by CryptoSpend on Wednesday and the debit card is expected to be in the market in September this year.
Visa is delivering on its commitment
The new crypto debit card will be issued by Australian company Novatti and should hit the market in September, the co-founders of CryptoSpend said. The debit card will allow spending on a core set of cryptocurrencies – Bitcoin, Ethereum, Ripple and Bitcoin Cash. The cryptocurrencies will be managed by BitGo. According to the co-founder of CryptoSpend, Andrew Grech, this way of spending profits will be better than selling cryptocurrencies, in his company’s experience, with more spending when the price of cryptocurrencies goes up.
Visa has already authorized the issuance of crypto debit cards in Australia for some major exchanges such as Binance, but they are not yet available. The Crypto.com exchange has also received permission to issue crypto debit cards and is preparing to release its card soon.