Blockchain
DEX Aggregator 1inch Partner with Mastercard to Rollout Crypto Debit Card
Decentralized exchange aggregator 1inch has unveiled a crypto debit card, which will enable crypto users for online and in-person purchases. The card is powered by payments giant Mastercard and developed in partnership with Baanx.
Per the announcement on Monday, the 1inch Crypto Card will allow users to make seamless cash withdrawals at supported ATMs through crypto-to-fiat conversion.
“This is another major step towards onboarding mass users to DeFi,” said Sergej Kunz, 1inch co-founder.
“With the 1inch Card, the user can benefit from the advantages of both DeFi and traditional finance.”
Further, the 1inch card is issued by Baanx’s ‘Crypto Life’ card, which is also used by crypto storage firm Ledger. In addition to providing seamless crypto-fiat conversion, the 1inch crypto card comes in both physical and virtual forms.
“Baanx is pleased to integrate the Crypto Life Card into the 1inch user ecosystem in partnership with Mastercard and looks forward to a successful partnership,” Simon Jones, CCO, Baanx and Crypto Life noted.
Like normal debit cards, these crypto cards will carry a number, validity date and CVC, for day-to-day transactions. When a payment is made, the cryptos get converted to fiat immediately in a fast and secure manner, enabling users to pay for goods and services using fiat, the company noted.
Additionally, card holders can withdraw cash with a physical or digital 1inch Card at any ATM that accepts Mastercard worldwide.
“Leveraging Mastercard’s leading technology and standards, the 1inch Card is connecting Web2 and Web3 worlds in an innovative way,” said Christian Rau, senior VP of crypto at Mastercard.
The crypto card will be initially available to crypto users in the UK and the European Economic Area (EEA) countries. The company, however, did not mention the crypto assets that the card supports.
Source: cryptonews.com
The post DEX Aggregator 1inch Partner with Mastercard to Rollout Crypto Debit Card appeared first on HIPTHER Alerts.
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Blockchain
MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase
MicroStrategy has increased its Bitcoin holdings to 214,400 BTC with a recent purchase of $7.8 million worth of the cryptocurrency. This move further solidifies MicroStrategy’s position as a major institutional holder of Bitcoin and demonstrates its continued bullish outlook on the digital asset.
MicroStrategy, a publicly traded business intelligence firm, has been actively accumulating Bitcoin as part of its treasury strategy, viewing the cryptocurrency as a long-term store of value and hedge against inflation. The recent purchase of $7.8 million worth of Bitcoin adds to the company’s already substantial holdings, reaffirming its confidence in the future potential of the digital currency.
MicroStrategy’s ongoing accumulation of Bitcoin reflects a broader trend of institutional adoption and investment in the cryptocurrency space. As more companies recognize the value proposition of Bitcoin as a hedge against economic uncertainty and fiat currency devaluation, they are increasingly allocating funds to acquire and hold the digital asset.
Overall, MicroStrategy’s decision to boost its Bitcoin holdings with a $7.8 million purchase underscores the company’s conviction in the long-term viability and potential of Bitcoin as a strategic asset. This move is likely to further encourage other institutions to explore Bitcoin as a component of their investment portfolios, driving continued growth and adoption in the cryptocurrency market.
Source: crypto.news
The post MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase appeared first on HIPTHER Alerts.
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