California-based company Marqeta, which specializes in card issuing, has launched a brand new service to enable the use of cryptocurrency cards to allow users to go about making purchases, taking advantage of rewards and spending from their debit and credit card accounts via cryptocurrency.
Launched to service some of the most popular platforms in the sector including Coinbase, Shakepay, Bakkt and Fold, these cryptocurrency cards can be integrated with existing digital wallets, while their compatibility with ATM services and direct deposit functions enables a high level of embedding within existing banking transactions.
Whilst cryptocurrency has grown in popularity as an investment vehicle or to make certain payments online, the sector still hasn't been fully exploited in conjunction with physical cards, with Marqeta poised to become a market leader in this space.
Customized Cryptocurrency Cards
These Cards Let Users Access Payments & Rewards In Cryptocurrency
Trend Themes
1. Customized Cryptocurrency Cards - New service enables the use of cryptocurrency cards to make purchases with debit and credit card accounts via cryptocurrency.
2. Integration with Existing Digital Wallets - Cryptocurrency cards can be integrated with existing digital wallets, ATM services, and direct deposit functions, enabling a high level of embedding within existing banking transactions.
3. Untapped Potential in Cryptocurrency Cards - Marqeta is poised to become a market leader as the first to fully exploit the potential of physical cards in conjunction with cryptocurrency.
Industry Implications
1. Fintech - The fintech industry stands to benefit most from the integration of cryptocurrency and physical cards for its potential in creating new payment and reward structures.
2. Banking - Banks can further integrate digital and physical payment capabilities by leveraging cryptocurrency to provide more convenient and flexible payment methods to customers.
3. Retail - The retail industry can benefit from the convenience offered by cryptocurrency cards, allowing customers to make purchases with greater ease and flexibility.