Austria-based digital investment platform Bitpanda announced on Tuesday it has joined forces with payment processing platform Contis to launch its new Visa debit card. Through the partnership, Bitpanda will be using Contis’ “zero balance” technology, which notably removed the need to liquidate assets before spending.
“Any digital assets a user has in their Bitpanda account can now be converted automatically to fiat at point-of sale, both online and in store, wherever Visa is accepted.”
Bitpanda further revealed that with more than 55 digital assets such as cryptocurrencies, precious metals, and fiat available to hold on its platform, the new card “pushes the boundaries” of crypto and asset spending in Europe. The card may be linked to any asset in a user’s Bitpanda portfolio and through the app, cardholders can easily switch, say from cryptocurrency to gold, and spend in real-time. Eric Demuth, Co-Founder and CEO of Bitpanda, spoke about the partnership by explaining:
“Launching the Bitpanda Card together with Contis is another step in our leading vision of the personal finance revolution, allowing everyone to spend any of their assets, be that with crypto, metals, or fiat, as they please – easily, 24/7. No topping up is required. Everything that holds value should be treated equally and should be possible to use as you wish. The Bitpanda Card is the missing piece of the puzzle in the world of digital finance.”
As previously reported, Bitpanda claims to be Europe’s leading retail broker for buying and selling Bitcoin, Ethereum, IOTA and other cryptocurrencies. The platform now has more than one million users.
“At Bitpanda we are firm believers in the innovative power of cryptocurrencies and the blockchain technology. Our mission is to be the key driving force in the ongoing fintech revolution by providing easy-to-use, safe and trustworthy access to any digital assets for both new and experienced users.”