Gate.io announces plans to launch Visa debit card in Europe

Weeks after Visa (NYSE: V) announced a long-term strategic partnership with a cryptocurrency payments platform Wirex to launch crypto-enabled debit and prepaid cards, Gate Group, the company behind the cryptocurrency exchange Gate.io and its GateToken (GT), has declared similar plans.


Through its Lithuania-based branch, Gate Global UAB, the crypto company plans to launch the Gate Visa debit card, which would allow users to seamlessly convert and spend their crypto in the real world, according to the press release published on March 9.



As per the announcement, the objective is to provide a secure and simple method to convert digital assets in fiat for online and in-store purchases, giving users complete control over their spending with the help of the Gate Card app’s built-in features.
Commenting on this development, Cuy Sheffield, Head of Crypto at Visa, said: 
“Visa wants to serve as the bridge between the crypto ecosystem and our global network of merchants and financial institutions. With programs like the Gate Visa debit card, Gate Group debit cardholders are enabled with a seamless way to convert and use their digital assets to pay for goods and services, anywhere Visa is accepted.”


In the meantime, users from the larger part of the European Economic Area (EEA) can already join the waitlist for the new debit card, and plans exist for expanding the availability to other regions.

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