Madrid-based banking startup 2gether has announced its Visa debit card which supports seven different types of cryptocurrency besides euros.
The card is claimed to be fee-free for customers anywhere in the eurozone and the list of supported cryptocurrency includes XRP, BTC, ETH, BCH, EOS, XLM, and LTC. The card “instantly” converts the cryptos to fiat currency and “allows consumers to spend crypto as easily as if they were euros..”, as the company stated.
This new product aims to solve the hassle in direct crypto payment which is “a long and difficult process involving exchanges, personal keys, and lots of waiting.” Cardholders will also be able to hold and manage euro and crypto balances in mobile app as well as trade crypto quickly within 2 clicks without any additional cost to exchange prices.
The app is tentatively open for download on the March 27 launch as the company looks to expand its presence in the eurozone after the beta launch in Spain previously. The firm also aims to raise €5 million (or $5.65 million) by hosting a pre-sale of its native token “2GT” via the app for all EU citizens on the same day.
2gether CEO Ramón Ferraz shared confidently in a statement:
“To date, there has been no consumer-owned, tangible application that connects crypto and the mainstream market. We’re proud to be one of the first companies in the crypto space launching a token sale with an already finished product.”
2gether was founded in 2016 and received backup advice from KPMG and A.T. Kearney. The company is keen on leveraging big data and blockchain technology to “significantly elevate” the personal economies of customers.