Visa Europe member Contis is involved in the introduction of a crypto debit card in cooperation with Eidoo.

Eidoos not in custody, subject to a credit card aimed at millions of Visa users in Europe and the UK

The decentralized financial platform (DeFi) Eidoo announced the launch of a Visa-enabled crypto debit card. The new product is to allow, within the UK and Europe, millions of potential users, the crypto-payments.

The announcement is the result of a partnership between Eidoo and Contis, as well as an e-money specialist licensee who is regulated in UK. Contis is one of the principal members of Visa Europe.

The card can serve as storage space for Bitcoin and Ethereum. In addition, the card also allows the storage of Fiat currencies like the British pound (GBP) and Euro (EUR).

The innovative Eidoo card as a bridge to wipe the traditional and decentralized financial models. Startup CEO Thomas Bertani is the Belief that the introduction could make an important contribution to the promotion of crypto-payments and transactions

Planned the company is also the addition of the Visa-support for the existing Version of your own debit card.

Contis are intended to support, among other things, the DeFi-cards-issue. Also in the conversion process and the processing of transactions of crypto in Fiat, the service provider is providing assistance. The same applies to the Integration of Stablecoins in the structures of the British and the regulated financial service provider Moneyfold.

“The Eidoo card is not custody of, subject to. She is so developed that users always have the full crypto-control,“ says Bertani.

The Startup combines the card with its non-held crypto-wallet. So you want to ensure that users of your money is always in perfect view. If you compare the offer with most of the other crypto-enabled DeFi-cards, the Visa-enabled Eidoo card by “is supported by a regulated financial services company”.

Bertanis brief explanation on the functioning of the credit card:

“People have a certain crypto-Token. These sell on DeFi DEXes such as Uniswap. In the next step, the regulated Stablecoin at the exchange rate of 1:1 (1 Moneyfold EUR = 1 EUR) is transferred in the course of payment on the crypto card as a credit.“

Starting next summer, new Eidoo debit cards to be delivered. To date, some 2,700 pre-orders should be received by the company. To be able to benefit from a card, users must stake the native EDO Token of Eidoo either or burnen. Staked have been so far, according to the company, more than 3.0 million tokens.

The Start of the Eidoo card is in an increasingly long list of platforms and companies that own crypto-enabled debit cards offer.

Provider, among other things, the DeFi-platforms, Monolith and Plutus are. But also some of the leading crypto exchanges and “Mainstream”-companies have launched similar projects. This BTSE and Binance include, for example,. Both companies have introduced debit cards for the Transfer of “crypto-to-Fiat”, common cause, the electronics giant Samsung and its partners Swipe also. The cooperation brought forth a crypto debit card for use within Samsung Pay.