New debit cards to launch in Europe after UnionPay approval

A new debit card is gearing up for launch in 31 European Economic Area countries after becoming one of the first digital asset companies to gain approval from UnionPay International.

Amon says its multi-currency card allows users to spend euros and pounds without any problems. The plastic is linked to a wallet that supports eight cryptocurrencies including Bitcoin, Ethereum, and Litecoin, and a one-click exchange makes conversions effortless. Plans are in place to support US dollars in the future, with the Amun community given the opportunity to vote on which digital assets they would like to add in the future.

According to the UK-based brand, UnionPay is accepted by 28.5 million merchants worldwide, and the payment processor has 90% coverage in most EEA countries. In countries such as Spain, Italy and Austria, this value rises to 100%.

Amon executives say they have chosen to use UnionPay instead of Visa or Mastercard because of how it will enable the company to achieve global expansion much faster, paving the way for its product launch in other regions such as the United States. and South America, a card market despite the high demand for digital assets.

A distinctive competitor in the market

Amon does not necessarily believe that cryptocurrencies should replace fiat, instead, the brand thinks the two can be complementary. The company’s motto is “define your freedom,” and the team says their products are designed to satisfy people who hold digital assets as a store of value, as well as those who use virtual currencies to make purchases.

Consumers can generate cashback on their purchases and will soon be able to share these rewards with the charities they care about. As improving cryptocurrency adoption levels is a crucial tenet of this project, a purpose-built assistant will offer analytical tools to help consumers make informed decisions about their finances, while a crypto academy will boast a range of learning materials. produced by a helpful community.

The crypto debit card is also shaping up to be competitive on ATM fees, as you won’t be charged fees for cash withdrawals under $ 325.

Explaining why Amon is so determined to make life easier for their customers, CMO Michael Kulakovsky told Cointelegraph: “The cryptocurrency market is growing rapidly and there are still so many underserved markets. New users often feel overwhelmed and frustrated by the complexity of the crypto industry. “

Make encryption accessible

Amon was founded by Daniele and Christian Izzo, two brothers who were frustrated when they found it difficult to use their cryptocurrency for daily purchases. Development of the company’s app started in 2018 and a partnership with one of the largest Hungarian commercial banks followed later.

But the brand wants to go beyond ensuring that it is easy to use Bitcoin when buying goods and services. Instead, its goal is to provide an outlet where altcoins can be used for day-to-day grocery shopping without any hassle, with AI enabling buyers to find the best performing cryptocurrency to use at any given time.

Amon has organized a fundraiser on the global platform BnkToTheFuture to ensure that its product can be successfully launched and says more than 1,400 crypto debit cards have already been pre-ordered. The company’s token, AMN, was also listed on Liquid.com.

During a question and answer session in May, Daniele Izzo said Amon intends to continue innovating as soon as the card hits the market, with new designs to be launched, as well as additional benefits and features.

After two years of work, the crypto debit card market has a new competitor in the ring.