Friday, July 10, 2020

You Can Now Transfer Cryptocurrencies into Debit Cards with PayGlobal

UK-based e-wallet service PayGlobal has revealed the launch of a new service that allows users to load cryptocurrencies and virtual assets into debit cards such as Visa and MasterCard.

Making Cryptocurrency Simpler

From being unknown among virtually all circles, digital currencies have become a little more than a buzzword, and now becoming a mainstream necessity, cryptocurrencies have gone a  long way to shelving doubts of never reaching the mainstream. Cryptocurrency is not much ‘cryptic’ any longer, at least in a literal sense, and companies such as PayGlobal are doing their absolute best to ensure digital currencies are readily and easily available.

If digital currency is ever going to be as popular as its fiat alternative, it must be as easy to access as the other. From the growing use of Lightning Network, to the now possible infusion of cryptocurrency with Visa cards, digital assets are well on the way to mainstream acceptance.

Authority Stamp and Approval

The issue of regulations and the fact that the crypto world is fairly loose in that aspect has chased away some potential prospects in the crypto space and done its share to keep skeptical and undecided institutional investors at a distance; however, validation from the respected bodies is gradually restoring faith into Bitcoin and its peers.

PayGlobal, based in the United Kingdom and offering services to dozens of countries is licensed by the Financial Conduct Authority (FCA), and its intent on providing solutions to help users get paid in cryptocurrencies with easy alternatives is only a testament to the structure that is gradually being formed in the crypto space. The involvement of known institutions such as Nasdaq, ICE, and Bakkt is just what is needed to give the nascent and amorphous industry definite direction and structure.

Crypto to Fiat Transfers

Before Payglobal’s new initiative, the b8uzz had been about the recently launched crypto debit cards that served as an equivalent of the Visa for crypto holders. However, PayGlobal’s CEO, Giora Tal thinks the new initiative is a simpler and better alternative. By offering users to the opportunity to load cryptocurrencies into existing debit cards, customers can have access to their coins anywhere in the world.

“Converting cryptocurrency to fiat money and sending it to your existing bank card through our regulated e-wallet platform provides customers with a quick and easy way to access their funds worldwide,” he said.

“The way we can transfer money from person to person, or company to a person is constantly evolving, and we are delighted to be the pioneers paving these new payment channels.”

The new service is available to countries in the European Union, Mexico, Australia, Singapore, and Nigeria, but not to US citizens, however.

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