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Nexo and Mastercard Partner to Create the World's First Dual-Mode Cryptocurrency Card

The new card will help users handle multiple physical and virtual credit cards

Mastercard and Nexo are creating the first dual-mode crypto card.
Image Copywright.2021 Primakov/Shutterstock

Global payments giant Mastercard partnered up with crypto lender Nexo to launch the “world’s first” dual-mode cryptocurrency card. The new card aims to revolutionize the way interact with their digital assets, combining the convenience of debit and credit functionality into a single card.

The Dual-Mode Cryptocurrency Card

The card is designed to allow its holders to switch between debit and credit modes and can be used by over 100 million merchants globally where Mastercard is accepted. The announcement referred to this characteristic and stated:

“The Credit and Debit Мodes fit the best of both worlds – debit for routine transactions and credit for larger purchases.”

This characteristic makes the card one of the most versatile crypto payment solutions in the market. The card offers the best of both worlds – debit for routine transactions and credit for larger purchases. This flexibility empowers users to manage their finances more effectively, adapting to their individual spending habits.

Furthermore, the card permits users to withdraw up to €10,000 each month without incurring any additional charges, enhancing its utility for both everyday expenses and larger financial transactions.

Customer-Focused Features

The card offers the best of both worlds: debit for everyday purchases and credit for bigger ones. This gives people the ability to handle their money better by adapting to how they spend their money.

Nexo has also gone a step further by giving cardholders the chance to earn up to 9% interest on their crypto stocks. This gives people a reason to keep their digital assets, even though they can still use a payment card.

Nexo's Co-Founder and Managing Partner, Antoni Trenchev, stressed that this innovation was made with the customer in mind, saying that it was made to meet the changing needs of their global customer base. He said that the card is the best example of innovation that is focused on the customer and that it changes what customers can expect from their financial service providers.


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