Edge says it is launching a completely private, no KYC debit Mastercard in the US. The new card may be directly funded with Bitcoin, Bitcoin Cash, Dogecoin, Litecoin , and Dash. The announcement of the card was made at Consensus.
The “confidential Mastercard” touts its feature that no personal information nor KYC process is required. The Edge Mastercard is powered by Iona.
Edge, formerly known as Airbitz, is a self custody crypto exchange. Effectively, a user of the card is selling back their crypto to Edge and receiving cash in exchange to complete transactions. The “first-of-a-kind card” may be used anywhere Mastercard is accepted.
Edge believes that it is filling a void with their Mastercard because selling crypto like Bitcoin can take days for cash to hit a users account while also adhering to KYC procedures. Now Edge claims that anyone with the Edge app can instantly use their Bitcoin at any Mastercard spending the equivalent of up to $1,000 per day.
“Without compromising any personal info, and without the usual fees or delays to top up their card, the Edge Mastercard is a true breakthrough for using crypto for day-to-day payments,” said Paul Puey, co-founder of Edge.
Edge claims that they are in compliance with all requirements for issuers, card associations, regulations, local, federal and international laws.
A physical card is available for a fee. The card is being issued by Patriot Bank, N.A.
