Mastercard and Nexo team up to launch cryptocurrency credit card
Mastercard would not allow its Credit Card for cryptocurrency purchases, but that does not mean Mastercard is staying out of this space. The firm has recently partnered with Crypto loan provider Nexo to create a cryptocurrency credit card.
According to Nexo, the new card is the world’s first cryptocurrency credit which allows you to purchase items without actually spending any cryptocurrency. Moreover, the card does not consider annual and monthly and foreign exchange fees.
“When using the Nexo Card to purchase goods and services, you actually pay using your Nexo flexible open-ended revolving credit line that is backed with your crypto holdings and thus not selling any of them, which is giving you the freedom to spend today and sell your holdings whenever you want in the future to pay back the loan.”, explains Nexo in a Press Release.
Cryptocurrency debit and credit cards have started to increase in popularity. The ease of spending cryptocurrencies through cards and also having cards supplied by Visa and Mastercard has been a major contributing factor in the rise of card-based cryptocurrency payments.
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