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UnionPay Gave Approval For New Debit Card Launch In Europe

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UnionPay Gave Approval For New Debit Card Launch In Europe

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After becoming one of the first digital asset companies to receive approval from UnionPay International, a new debit card is set to launch in 31 countries in the European Economic Area.

Amon says that its multi-currency card allows users to spend euros and pounds. Plastic is connected to a wallet that supports eight cryptocurrencies including bitcoin, Ethereum and Litecoin - and simplifies one-click exchange conversion. Plans are underway to support the next US dollar, with the Amon community given the opportunity to vote on which digital assets they would like to add in the future.

According to the U.K.-based brand, UnionPay is accepted by 28.5 million merchants globally, and payment processors have 90% coverage in most EEA countries. In the likes of Spain, Italy and Austria, this increases to 100%.

Amon officials say they opted to use UnionPay instead of Visa or MasterCard because it would help the company achieve global expansion much faster - a route to launch its product in other regions such as the US and South America To pave the way, an underscore is the market for cards despite the fact that the demand for digital assets is high.

A distinct entry into the market

Amon does not necessarily believe that cryptocurrency will have to replace Fiat - instead, the brand feels that the two can complement. The company's motto is "Defining Your Freedom", and the team says their products are designed to cater to those who hold digital assets as stores of value, as well as those who make purchases. Let's use virtual currencies.

Consumers can generate cashbacks on their purchases - and soon, they will also be able to share the rewards with charitable organizations they care about. Given how increasing the level of crypto adoption is an important principle of the project, a specially created subsidiary will provide analytical tools to help consumers make informed decisions about their finances, while a crypto The academy will boast of several learning materials produced by a supportive community.

The crypto debit card is also taking shape to be competitive on fees from ATMs, as there will be no charge for cash withdrawals under $ 325 in value.

Making crypto accessible

Amon was founded by Daniele and Christian Izzo - two brothers who used to get frustrated when it was difficult to use their cryptocurrency for everyday shopping. Development on the company's app began in 2018, and was followed by a partnership with one of Hungary's largest commercial banks.

But the brand wants to ensure that bitcoins are easy to use when purchasing goods and services. Rather, it aims to provide an outlet where altcoins can be used for everyday expenses without any hassle - enabling shoppers to find the best-performing cryptocurrency to use at any time. for.

Amon is holding a fundraiser on the global platform BnkToTheFuture to ensure its product launches successfully - and says more than 1,400 crypto debit cards are already operational. The company's token, AMN, is also listed on

During a Q&A back in May, Daniel Izzo said that Amon planned to continue innovating as soon as the cards came to market - to roll out new designs, as well as additional features and features.

After two years in the making, the crypto is a new competitor in the ring in the debit card market.

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NOVEMBER 16, 2020