In an announcement to media outlets, banking startup, 2gether, announced to the world its European expansion after it successfully launched its beta project in its home country of Spain.
The collaborative banking platform, 2gether, allows its users to instantly spend their crypto assets anywhere in Europe as easy as they would have using Euros. Intending to make cryptocurrencies the preferred mode of day-to-day payments, 2gether wants to find a way around the long process users face when spending cryptocurrencies in their daily economic activities.
At present, crypto holders have to undergo lengthy processes when spending their crypto assets in their daily operations like paying for coffee. 2gther intends to achieve its goal charging no extra fees to crypto holders.
In another announcement to the public, the Spain-based banking company announced to the world the launch of its Visa Debit Card that strives to allow its users to pay using cryptocurrencies. In the media briefing, 2gether stated that its clientele could use the recently launched Visa Debit Card to settle payments using either Euro or virtual currencies.
The seven cryptos that are going to be supported by the card are Litecoin (LTC), Bitcoin (BTC), Stellar (XLM), Ether (ETH), EOS, Bitcoin Cash (BCH), and Ripple (XRP). According to the information we are gathering from the company, the Visa Debit Card will be converting the crypto assets to fiat currency instantly during transactions. Although not yet clear, it is rumored that the service will be for free for clients who reside in any of the 19 Eurozone countries.
If all goes well, the Visa Debit Card will address the issues that come with making settlements directly using crypto assets. Part of the media communique stated:
“At the moment, making payments using crypto assets is proving to be a long and discouraging process that demands the involvement of personal keys, crypto exchanges, and a lot of waiting time.”
The launch of this service marks a moment of delight for cryptocurrency holders as they can now put their crypto assets in use in making payments or in withdrawing their cryptos in fiat currency. All that crypto holders will require is a 2gether Visa Debit Card and an ATM that is Visa friendly.
Even though the service is only limited to the seven cryptocurrencies, the initiative will go a long way in the adoption of cryptos in our day-to-day lives.
Speaking on the latest development, Ramon Ferraz, 2gether CEO, stated,
“The distinctive abilities of our ATM services promote our mission of ensuring the mass adoption of cryptocurrency as well as its smooth integration in the lives of consumers. As an upcoming company, 2gether is working round the clock to ensure new features are included in the platform to solidify its position as the number one banking platform for cryptocurrencies and Euro economics.”
At present, the adoption of cryptocurrencies in the daily lives of consumers is quickly becoming the new target for the crypto environment. Every firm that is involved in cryptocurrency and blockchain schemes is making considerable efforts to take advantage of the existing opportunities.
In December 2017, the world’s principal payment service provider, VISA, made announcements of its intentions to integrate its global platform with blockchain technology to facilitate cryptocurrency payments. A few months later, the financial market is starting to witness changes that involve the incorporation of cryptocurrency as an alternative mode of payment in operations.
2gether’s Visa Debit Card aims to simplify the use of virtual assets in the retail world, allowing users the opportunity to buy supported cryptocurrencies using their smartphone easily. Through a dedicated mobile app, users will be able to transfer and receive funds from other users free of charge. The mobile application is available for download at the Apple Store and Google Play Store.
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