The first cryptocurrency-to-GBP debit card has launched in the UK.
The CoinJar Card allows users to make purchases by instantly converting cryptocurrencies into fiat currency wherever Mastercard is accepted.
The technology from CoinJar, which works with close to 50 cryptocurrencies, is powered by Australia-listed EML Payments. The firms say it enables lightning-fast transactions, no matter where in the world CoinJar Card is used.
Activated and used from within CoinJar’s app, the card is available as a digital and physical card with Google Pay integration.
There are no ongoing fees, and a low 1% conversion rate is returned to customers through an in-house rewards programme.
”CoinJar Card is the next step in our mission to make crypto both accessible and useful, to everyone, every day,” said Asher Tan, CEO at CoinJar.
CoinJar, sponsors of Premier League football club Brentford FC, has already helped users conduct billions of dollars worth of transactions in Bitcoin, Ethereum and other cryptocurrencies with over 500,000 customers in the UK and Australia.
”With EML’s technological expertise and Mastercard’s universal acceptance, CoinJar Card gives CoinJar’s customers true day-to-day crypto functionality, whether through smartphones, wearables, digital or eye-catching physical cards,” added Lorraine Buhagiar, UK MD at EML.