World’s First Crypto Backed Payment Card

BANKING AND ECONOMY

  • The world's first "crypto-backed" payment card was launched by a UK-based Nexo company in partnership with US-based Mastercard.
  • The new payment card was named ‘Nexo card’ available in selected European countries.
  • The new card allows users to spend without having to sell their digital assets which are used as collateral to back the credit granted.
  • The new card allows the investors to spend up to 90% of the fiat value of their crypto assets.
  • For customers who maintain a loan-to-value ratio of 20% or below, the interest rate will remain at 0%.

Facts to know:

 

  • Headquarters of Mastercard: New York.
  • CEO of Mastercard: Mr.Michael Miebach.
  • Nexo is the world's leading regulated institution for digital assets, to maximize the value and utility of cryptocurrencies
Nexo Card
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