The idea of bitcoin debit card has already been realized in the past by Wave Crest Holding, however, since VISA’s ban on all cards issued by the company, the service has been unavailable. Now two different crypto-companies join efforts to put physical (and virtual) bitcoin card in use once again.
VISA decided to suspend all Bitcoin cards on January 5, 2018, after announcing a change in in their policy concerning operating permissions. This ruling effectively stopped all major cryptocurrency debit cards services like BitPay, Cryptopay.me, Coinsbank and others because no cu cryptocurrency withdrawals or POS payments became possible.
Now the market is ready for new attempts to bring bitcoin cards to the market. There are two new projects about to be launched in April. Dmitry Lazarichev, CEO of Wirex, stated the company’s intent to start working with physical cards supporting payments in GBP, EUR, and USD. The solution is developed by Contis, a member of VISA.
Virtual card will be available to the public on March 20th, while physical cards are expected in mid-May. Only EEA countries are eligible for the service.
Dmitry Lazarichev said:
“No sanctioned countries allowed but in the meantime, the cards can be ordered by EEA residents only, in 1-2 months we add some Asian countries etc.”
CryptoPay will be another company to issue bitcoin cards, according to its co-founder George Basiladze. The company is reportedly working on an exclusive solution for Russia.