Quickbit has become the first Swedish crypto firm to offer a debit card in that country, the company announced on its website Tuesday (May 3).
“This is a huge milestone in our still-young history,” said Hammad Abuiseifan, CEO of Quickbit. “With Quickbit Card, we take the lead in the Swedish crypto market by offering a product that allows people to make payments while also being directly linked to our ecosystem of crypto services. We are thus taking another big step towards our goal of simplifying the use of cryptocurrency in people’s everyday lives.”
The card is a Visa card issued by Intergiro that lets users make payments through euro accounts in its app.
The company says users can easily switch between selected cryptocurrencies and euro payments through the app, with the card working in any place that accepts Visa. The card can be used for online payments, at physical stores, and to make ATM withdrawals.
The card is being rolled out to all Swedish users following a pilot run at the end of March and is available for order through the Quickbit App. Eventually, the card will become available for the Norwegian market and connected directly to a crypto wallet in the Quickbit App.
Read more: Following Growing Social Media Trend, Telegram Adopts In-App Crypto Payments
Last week, the messaging service Telegram announced that its 550 million users would gain the ability to send and receive payments using the toncoin cryptocurrency in real time.
With the help of a new digital wallet, Telegram users can send TON coins “directly within Telegram chats … without transaction fees to any Telegram user,” the company wrote on Twitter, adding that “with this service, you’ll no longer need to enter long wallet addresses and wait for confirmations.”
NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORE CARDS – APRIL 2022
About: Shoppers who have store cards use them for 87% of all eligible purchases — but this doesn’t mean retailers should boot buy now, pay later (BNPL) options from checkout. The Truth About BNPL And Store Cards, a PYMNTS and PayPal collaboration, surveys 2,161 consumers to find out why providing both BNPL and store cards are key to helping merchants maximize conversion.