The UnionPay card for cryptocurrency has been launched for a week and has reached 70 countries worldwide.
During the first week of launching its cryptocurrency UnionPay card, financial payment provider Crypterium has already issued approximately 4000 financial cards to 70 countries worldwide, demonstrating a strong demand for cryptocurrency financial cards among the public.
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Crypterium was founded in 2013 and is an Estonia-based cryptocurrency bank focused on popularizing cryptocurrency payments. On June 12, they launched a cryptocurrency UnionPay card, which currently allows users to use cryptocurrencies such as Bitcoin, Ethereum, Litecoin, USD Coin (USDC), and their own token CRPT.
As previously reported in ABM, users can apply for a financial card in the Crypterium App, connect it to Apple Pay or Android Pay, link it to their cryptocurrency account, and convert their cryptocurrency to local fiat currency at the time of the transaction, allowing users to transact in different currencies, including cryptocurrencies.
The majority of debit card orders are seen coming from the United States in the graph, but the company also notes high demand in the Asia-Pacific region, with Australia ranking third. A few orders come from countries with depreciating local currencies and economic instability.
Steven Parker, former Visa CEO and current CEO of Crypterium, stated:
These impressive numbers reflect the global demand for cryptocurrency debit cards, which allow cryptocurrencies to be on par with traditional currencies in terms of payments.
According to a report, the cryptocurrency debit card operates similarly to "traditional debit cards," enabling users to make online and in-store purchases on various services like Amazon, Netflix, and more, as well as cash withdrawals at ATMs, with cryptocurrencies automatically converted to local currency.
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