Crypterium, a fintech led by a former General Manager of Visa, has shipped 3,736 global Bitcoin cards to nearly 70 countries in the first week since its launch. This sharp growth reflects a healthy appetite for crypto-backed cards in regions where there were no solutions previously.
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Crypterium Card Soars to Nearly 4,000 Users Globally in a Week (Graphic: Business Wire)
Crypterium Card is the first truly global crypto-card. The card is loaded with cryptocurrencies (Bitcoin, Litecoin, Ethereum and USD Coin) and can be used for purchases both online and in-store. Holders can also withdraw their cryptocurrencies as cash from any of the 2 million ATMs around the globe, with funds converted automatically and instantly to local currencies.
To date, the largest number of card orders has come from the United States, reflecting increased confidence in digital currencies in the world’s biggest economy. Demand for the Crypterium Card is also remarkably high in the Asia-Pacific region, with Australia ranking third by orders. Emerging markets show an exceptionally high demand, too. Countries with volatile economies, unstable financial systems, and weak local currencies are among the top buyers.
According to Crypterium Research, cryptocurrencies “help overcome the challenging economic conditions by offering alternative ways to store value through stablecoins, earn with speculative investments, and transfer money instantly without bearing the high costs of traditional systems.”
In this regard, Crypterium CEO Steven Parker suggests that “what is consistent in the booming demand for the Crypterium Card is the requirement for a stable debit card that lets holders give their crypto and traditional currencies equal status when it comes to payment.”
To read the full crypto payments analysis, go to https://special.crypterium.com/crypto_payments_research_2019/
Crypterium has been bringing innovation to the financial markets since 2013 when it delivered the first mobile payment solution based on QR scanning in Eastern Europe and raised over USD 1 million in a Series A financing round. By 2015, it had established more than 300 partnerships with e-commerce retail services, and successfully raised another USD 7 million in a Series B financing round. Crypterium started developing its blockchain-based products early in 2017 and continues to innovate. For further information, please go to https://crypterium.com