Nexo and Mastercard tie up to launch ‘world first’ crypto-backed payment card
- Crypto lender Nexo has partnered with Mastercard to launch the world’s first “crypto-backed” payment card.
- The card allows users to spend without having to sell their digital assets such as bitcoin. These will be used as collateral to back the credit granted.
- Initially the facility has been launched in selected European countries.
- The electronic money firm DiPocket will be the card issuer.
Points to Remember:
- The world’s first “crypto-backed” payment card has been launched by which company in partnership with Microsoft?
Source: Economic Times