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With a novel cryptocurrency card program by Unbanked and its strategic partner Moorwand, crypto users in the European Union and United Kingdom have a newbie-friendly instrument for real-world usage of digital assets.
According to the official announcement shared by Unbanked Inc., a global regulated multi-product fintech solution, it is starting to issue cryptocurrency cards in Europe and the United Kingdom.
It’s a big day! We opened our cryptocurrency card program to eligible residents in the U.K. and parts of Europe. Unbanked card holders can use 15 different cryptocurrencies to fund their user account, including $BTC, $ETH, $UNI, $XLM, and $UNBNK. https://t.co/6GkUJE9Fcc
The newly launched card program is organized in partnership with Moorwand, a regulated digital assets processor authorized to operate within the UK and EEA. With the card program announced, users can sign in to the Unbanked website and get their first crypto-friendly plastic cards. While for EU and UK residents, card program is available right now, citizens of LATAM, Canada, India, Nigeria, and some other countries will be able to use this instrument in Q1, 2023.
Countries include Portugal, Croatia, Bulgaria, Slovenia, Germany, United Kingdom, France, Spain, Poland, Belgium, Greece, Finland, Latvia, Italy, Sweden, Liechtenstein, Denmark, Malta, Lithuania, Slovakia, Luxembourg, Estonia, Norway, Hungary, Czech Republic (Czechia), Romania, Ireland
The novel solution works with 15 cryptocurrencies on various blockchains, including the likes of Bitcoin (BTC), Ethereum (ETH), Uniswap (UNI) and Stellar Lumens (XLM), as well as Unbanked’s native cryptocurrency, UNBNK.
Daniel Gouldman, co-founder and co-CEO of Unbanked, highlights that the solution offered by his team is highly innovative and is truly important for the crypto and blockchain segments in Q4, 2022:
We have worked for over two years on building this exciting solution to make the Unbanked Card available to interested users in Europe. It’s great to know with this launch, we will be able to provide residents in the U.K. and parts of Europe access to one of the most innovative crypto-powered cards in market.
While working with Unbanked’s cryptocurrency card, the digital assets are converted to fiat seamlessly through merchants that accept these cards.
Unbanked’s UNBNK is available natively on both Ethereum (ETH) and Stellar Lumens (XLM) blockchains without being wrapped as Ethereum UNBNK and Stellar UNBNK. Tokens can be swapped among each other through the main project’s website.
UNBNK token can also be used for daily payments of Unbanked users. Card holders can stake the token to earn up to 1%-6% back in periodic rewards.
UNBNK is launched with a maximum supply of 1 billion tokens. Purpose-made mint/burning mechanisms are activated to keep the token balance between two interconnected blockchains. UNBNK can be withdrawn from the Unbanked.com dashboard with a 2% deflationary fee.
As such, in general, UNBNK works with 2% burning over time: the asset is “scarce by design.”
As such, Unbanked brings the global cryptocurrency community one step closer to real-world adoption of cryptocurrencies in the retail sphere.
The card unlocks an unmatched toolkit of opportunities in the financial, trading and payments segments for all holders.
Since its launch in 2018, Unbanked has amassed a passionate and vibrant community of users. Its fintech payments solutions are leveraged by flagship industry protocols, including Litecoin Foundation, Nexo, StormX, Stacks and other prominent companies.
Also, the team launched a branded NFT collection and rolled out a number of services for users in the United States and Latin America region.
Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.
Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)
Disclaimer: Any financial and market information given on U.Today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.
