Italy’s new crypto-powered debit card supplier Bitsa expanded its prepaid card with major privacy-focused altcoin Monero (XMR).
On Feb. 21 Bitsa announced that the company unlocks “all types” of XMR-based card transactions in physical stores and online, including card-to-card transfers and Monero conversion to euro (EUR),
Launched in Q3 2019, Bitsa Card supports a total of 12 cryptocurrencies like Bitcoin (BTC) alongside EUR bank transfers and payments so far.
As suggested by some online users, Bitsa Card might be the first prepaid crypto card to have enabled privacy-oriented cryptocurrency Monero:
The addition of the altcoin comes in line with the company’s mission to enable more funding methods, according to Bitsa CEO Luis Vaello.
Vaello said:
“We do not know 100% if we are the first card to support Monero, but we are definitely ones of the first and at least the only one fully functional. Our idea is to make Bitsa recharged with as many funding methods as possible.”
In the announcement, Bitsa emphasized that Monero’s transactions are not traceable due to its anonymous nature:
“While the vast majority of cryptocurrency transactions are verifiable and traceable by anyone, the addresses (sender and receiver) and the amounts sent are hidden in Monero. Therefore, since there is no trace due to its high privacy, it is impossible to distinguish these tokens.”
Headquartered in Monaco, Bitsa provides both a card and full electronic account, allowing its users to transfer funds and pay for services in countries in the Single Euro Payments Area (SEPA). Since the launch, Bitsa Card issued about 30,000 prepaid cards, expecting to have more than 150,000 users in 2020, the executive noted.
Vaello noted that Bitsa is operating in compliance with major European laws like the European Union’s Anti-Money Laundering Directive (5AMLD), which came into effect in January 2019.
Source: Cointelegraph.com