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Financial payment company Crypterium launches cryptocurrency UnionPay card

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Financial payment company Crypterium launches cryptocurrency UnionPay card

The financial payment company Crypterium has partnered with China UnionPay, allowing users to choose Bitcoin, Ethereum, or Litecoin for everyday purchases.

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Crypterium was founded in 2013 and is a cryptocurrency bank based in Estonia, dedicated to promoting cryptocurrency payments. According to a report, users can apply for a debit card in the Crypterium App, link it to Apple Pay or Android Pay, and connect it to their cryptocurrency account to convert the user's cryptocurrency to local fiat currency at the current exchange rate when swiping the card. The Crypterium App also allows its users to trade different currencies, including cryptocurrencies.

The app has over 500,000 users in the United States and the United Kingdom. The debit card does not charge transaction fees, but there is a 1.5% fee when adding prepaid funds. The deposit limit is up to $10,000 per day and $60,000 per month. The financial card introduced by Crypterium is a UnionPay prepaid debit card. Currently, nearly 23 million merchants in 175 countries accept UnionPay cards.

Matias Lapuschin, representing the company, pointed out that products from competitors (such as Coinbase Card) can only be used in specific countries or regions. He emphasized:

Unlike other players in the market, we chose UnionPay China UnionPay because it is the only product that can achieve global coverage. Visa and MasterCard only serve in certain countries: the UK, Central Europe, the US, etc.

Crypterium believes that the main competitors in the crypto cards market only focus on large countries such as the UK, the US, or the European Economic Area. This will create a growing gap for countries like Venezuela, Brazil, India, and others that need financial services.

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