The new debit card draws on the technology used in the Bit2Me crypto card already in existence, but this time, cardholders are qualified for up to 9% cryptocurrency payback.
As crypto-backed debit cards gain popularity, Web2 and Web3 tools continue to converge.
The Mastercard network, which is home to millions of companies worldwide, is how the original Bit2Me card functions for its customers. With this new upgrade, customers may now receive up to 9% cryptocurrency cashback on all online and in-store transactions made with the card.
According to Bit2Me's CEO and co-founder Leif Ferreira, using well-known Web2 financial mechanisms like debit and credit cards will help spread awareness of this "revolutionary" technology.
"The goal is that any user from anywhere in the world has easy access to the limitless world of Web3 financial services, at the touch of a button."
The card and wallet support eight cryptocurrencies, including Bitcoin, Ethereum, XRP, Cardano, Solana, Polkadot, Bit2Me native token, and the stablecoin Tether.
According to reports, the corporation intends to offer more currencies all year long. Users may presently access Bit2Me in 69 different nations. However, only the virtual form of the card is available to users in the European Economic Area (EEA).
Since first announcing in 2021 that it will provide services internationally, Bit2Me has been considering service expansion. Back in July, after 100,000 barred cryptocurrency investors were kicked off the now-defunct local Spanish trading site 2gether, the exchange jumped at the chance to let them join its platform.
Mastercard has been engaged in the Web3 arena, introducing new services and possibilities for users and clients. In the last year, it has selected at least seven blockchain and cryptocurrency firms to participate in its fintech accelerator program.
A Web3 musician accelerator program, concentrating on the meeting point of the music business and cutting-edge technology, was also launched by the firm in collaboration with Polygon.
Mastercard and Binance launched a new partnership on January 31 in order to introduce their second prepaid crypto card in Latin America.
