1inch Network Launches Crypto Debit Card with Mastercard

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In collaboration with Mastercard and Crypto Life, 1inch Network, the top Decentralized Exchange aggregator, unveiled a novel debit card. This new card enables users to make cryptocurrency-to-fiat conversions on the spot, providing both physical and virtual alternatives for hassle-free transactions at all ATMs.

Newly released! We’re excited to announce the innovative 1inch Card in collaboration with Mastercard and CL Technology. Your cryptocurrency is now ready to be used for both online and offline purchases, with an exclusive design as a bonus. Hurry up and secure early access to this DeFi game-changer.

— 1inch Network (@1inch) April 8, 2024

Christian Rau, Mastercard’s senior vice president of crypto and fintech enablement, emphasized the need to connect the Web3 and Web2 realms using this card. By incorporating Mastercard’s technology, we provide enhanced security and convenience for users.

Christian Rau stated that the 1inch Card bridges the gap between the Web2 and Web3 universes using Mastercard’s advanced technology and guidelines.

Instead of the conventional approach which includes several stages and costs for changing crypto into fiat currency, the 1inch Card simplifies the procedure, allowing users to keep control of their assets while enjoying a single conversion rate during transactions.

1inch plans to broaden the accessibility of its card from the UK and European economic areas to a global scale, subject to securing necessary partnerships and regulatory approvals. Orest Gavryliak, the company’s legal head, suggested future expansion into new geographic regions.

The 1inch co-founder, Segej Kunz, showcased the card’s ability to make virtual payments on social media. He highlighted its simple and effective design.

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2024-04-09 06:44