Xapo is a Bitcoin wallet and storage system for the digital currency that hopes to bring Bitcoins more into the mainstream with a debit card. The new currency seems to have people on the fence and even if you're a huge proponent of Bitcoins, a lot of places simply don't accept them as a legitimate type of payment yet.
The Xapo Debit Card is made to work just like a regular credit card, even if a store doesn't accept Bitcoins as a kind of payment. As it stands, Xapo's Bitcoin Debit Card is not affiliated with MasterCard, but Xapo is working to establish a formal partnership through a partner bank, which would make Bitcoins accepted anywhere a MasterCard is.
What's Driving This Trend
- Cryptocurrency Debit Cards
- The rise of cryptocurrency debit cards provides an opportunity for disruptive innovation in the payment industry.
- Mainstream Adoption of Bitcoins
- The emergence of Bitcoin debit cards could lead to a disruptive innovation in the financial industry by driving the mainstream adoption of Bitcoins.
- Partnerships with Traditional Banks
- The partnership between Xapo and a traditional bank to establish a formal partnership could lead to disruptive innovation in the cryptocurrency industry and increase trust in the use of digital currencies.
Who This Affects Most
- Financial Services
- The emergence of cryptocurrency debit cards could disrupt the traditional financial services industry by providing an alternative payment method.
- Retail
- Retail businesses could benefit from disruptive innovation opportunities by accepting cryptocurrency payments through debit cards.
- Cryptocurrency Wallets
- The emergence of cryptocurrency debit cards could disrupt traditional cryptocurrency wallets and storage systems by providing a more convenient and accessible way to spend digital currencies.
