Gate.io Launches Visa Debit Card in Europe
- The new Gate Visa debit card will be available to members in most of the European Economic Area (EEA) countries.
- Gate.io plans to expand the service to other areas in the coming months.
- Visa, alongside Mastercard, has remained bullish on the crypto industry despite the recent happenings.
The partnership between crypto and traditional payment companies is fast becoming commonplace. Gate Group, the company behind the crypto exchange Gate.io, has unveiled plans to launch a Gate Visa debit card through its Lithuania-based company, Gate Global UAB.
The Gate Visa debit card will make it easier for users to convert and use their cryptocurrency to spend their crypto at any of the 80 million merchant locations that accept Visa globally. This includes both in-store and online transactions.
The card will provide users with total control over their spending, with features that are simple to use already included in the connected Gate Card app. A Gate.io announcement claims users can use the Gate Card app to track and manage their spending securely.
Reacting to the partnership, Dr. Lin Han, Founder and CEO of Gate Group, said, “We are thrilled to introduce this innovative solution to the market. With the Gate Visa card, our users can make seamless crypto payments to merchants worldwide. It bridges crypto with everyday life and brings greater financial inclusion to users.”
The partnership with Gate Group is one of the many crypto-focused collaborations Visa has announced in recent months. Cuy Sheffield, Head of Crypto at Visa, said the company “wants to serve as the bridge between the crypto ecosystem and our global network of merchants and financial institutions.”
According to the announcement, registration, and waitlist are now available for the new card. The waitlist will first be accessible to users in the majority of European Economic Area (EEA) countries. However, Gate Group plans to extend the service to other areas.
The partnership with Gate.io comes days after Visa announced a collaboration with Crypto.com that will enable users in Brazil to make payments with Apple Pay. Visa also dismissed claims that it was taking a step back from crypto-focused partnerships due to recent events in the industry.