Bit2Me and Mastercard launch debit card with crypto cashback

The merger of Web2 and Web3 tools continues arsenic crypto-backed debit cards go much mainstream. 

In an announcement connected Feb. 10, Bit2Me, the largest Spanish cryptocurrency exchange, revealed its caller cashback debit paper successful concern with Mastercard.

The archetypal Bit2Me paper works for its users via the Mastercard web that hosts millions of businesses worldwide. This caller update offers users up to 9% crypto cashback for each purchases made with the paper online oregon in-store.

Leif Ferreira, the CEO and co-founder of Bit2Me, told Cointelegraph that the usage of already known Web2 fiscal tools similar debit and recognition cards comes with the anticipation of greater adoption of this "revolutionary" technology

"[The] extremity is that immoderate idiosyncratic from anyplace successful the satellite has casual entree to the limitless satellite of Web3 fiscal services, astatine the interaction of a button."

The paper and wallet enactment 8 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Ripple (XRP), Solana (SOL) and Polkadot (DOT), on with the stablecoin Tether (USDT).

The institution reportedly plans to adhd further currencies passim the year. Bit2Me is presently available to users successful 69 countries astir the world. However, users successful the European Economic Area (EEA) are lone eligible to use for the virtual mentation of the card.

Related: The authorities of crypto successful Southern Europe: Malta leads the way

Bit2Me has had work enlargement connected its radar for immoderate time, aft its archetypal announcement successful 2021 to offer services globally. Back successful July, the speech was speedy to leap to assistance 100,000 blocked crypto investors onboard onto its level aft they wereshut retired from the defunct section Spanish trading level 2gether.

Meanwhile, Mastercard has besides been progressive successful offering caller services and opportunities for users and clients successful the Web3 space. It has chosen astatine slightest 7 blockchain and crypto startups to beryllium a portion of its fintech accelerator program successful the past year. 

The institution besides partnered with Polygon to motorboat a Web3 instrumentalist accelerator program, focusing connected the intersection of the euphony manufacture and emerging technologies.

On Jan. 31, Mastercard announced a caller effort with Binance to motorboat their 2nd prepaid crypto paper in Latin America.