Following the issuance of the card, users will be able to spend their cryptocurrencies directly without converting them to any fiat currencies. Furthermore, the CryptoSpend app will allow users to make direct retail purchases, payout to their accounts, and also pay bills with supported digital assets, including Bitcoin, Ether, XRP, and Bitcoin Cash.
In an interview with the Australian Financial Review (AFR), the co-founder of CryptoSpend Andrew Grech said:
The approval points to the growing interest in cryptocurrencies in Australia and across the globe. It also demonstrates the global moves made by Visa and Mastercard (NYSE:MA) to allow users to spend digital assets locally.
Meanwhile, local payments company Novatti will be responsible for distributing the new card, which is expected to hit the market in September.
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Source: Cryptocurrency - investing.com
