CRYPTO NEWS: UPHOLD INTRODUCES A CRYPTO DEBIT CARD WITH PERKS.

UPHOLD INTRODUCES A CRYPTO DEBIT CARD WITH PERKS

IN THE UK, UPHOLD INTRODUCES A CRYPTO DEBIT CARD WITH PERKS. THE NEW DEBIT CARD, WHICH WILL REWARD U.K. CARDHOLDERS WITH UP TO 4% REWARDS AND INCUR NO TRANSACTION FEES, WAS ANNOUNCED IN A PRESS RELEASE ON FRIDAY, NOVEMBER 11. THIS MAKES IT EVEN MORE ALLURING TO CRYPTOCURRENCY TRADERS WHO ARE SCRAMBLING FOR A WAY TO MAKE PURCHASES USING DIGITAL ASSETS.

“WE WANT OUR USERS TO BE ABLE TO EFFORTLESSLY SPEND THE CRYPTOCURRENCY IN THEIR ACCOUNTS FOR SHOPPING ANYWHERE IN THE WORLD AND RECEIVE XRP INCENTIVES WITH EVERY TRANSACTION, MAKING UPHOLD A FOCAL FEATURE OF THEIR FINANCIAL LIVES,” SAID SIMON MCLOUGHLIN, CEO OF UPHOLD.

UPHOLD INTRODUCES A CRYPTO DEBIT CARD WITH PERKS:

UPHOLD INTRODUCES A CRYPTO DEBIT CARD WITH PERKS
UPHOLD INTRODUCES A CRYPTO DEBIT CARD WITH PERKS

WITH A GOAL OF HAVING IT FULLY AVAILABLE BY THE END OF NOVEMBER, UPHOLD INTENDS TO ROLL OUT A U.S. VERSION OF THE CARD OVER THE COMING WEEK.

ACCORDING TO A RECENT PYMNTS STUDY TITLED “PAYING WITH CRYPTOCURRENCY: WHAT MERCHANTS AND CUSTOMERS EXPECT FROM DIGITAL CURRENCIES,” 77% OF BUSINESSES WHO ACCEPT CRYPTOCURRENCY AS PAYMENT CLAIM LOWER TRANSACTION PROCESSING COSTS COMPARED TO TRADITIONAL PAYMENT OPTIONS AS A DRAW FOR CUSTOMERS.

MOREOVER, ACCORDING TO THE SAME STUDY, 32% OF COMPANIES THAT ACCEPT CRYPTOCURRENCY PAYMENTS DO SO BECAUSE THEY THINK IT WOULD OPEN UP NEW MARKETS FOR THEM.

UPHOLD HAS DONE IMPORTANT PROGRESS TOWARD ATTRACTING THESE NEW CLIENTS, AT LEAST IN THE U.K., WITH THE LAUNCH OF “CRYPTO PAYMENTS CARD.”

REGULATION OF CRYPTOCURRENCIES IS ALSO EXPANDING IN EUROPE. ANDREA ENRIA, THE SUPERVISORY BOARD HEAD OF THE EUROPEAN CENTRAL BANK (ECB), CAUTIONED THAT IT WILL BE DIFFICULT TO IMPLEMENT REGULATION OF CRYPTO ASSET PROVIDERS ON A BROAD SCALE. ENRIA EXPRESSED CONCERN FOR HER COWORKERS WHO WILL BE RESPONSIBLE FOR THIS MONITORING IN THE FUTURE BECAUSE IT IS CHALLENGING TO INTERACT WITH THESE CREATURES.

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CRYPTO NEWS: UPHOLD INTRODUCES A CRYPTO DEBIT CARD WITH PERKS.

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