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Uphold To Launch A Cryptocurrency-Enabled Card In Europe

An American digital wallet and trading platform, Uphold, is obtaining European card issuer Optimus Cards UK Limited to issue a cryptocurrency-enabled card on the continent.

More crypto payments are coming to Europe. @UpholdInc plans to roll out a crypto debit card in just over a month, paving the way for increased adoption. But are consumers ready to use crypto for everyday purchases? — Cointelegraph (@Cointelegraph) February 3, 2021

Uphold is planning to launch out its crypto-powered debit card in Europe starting in April 2021 according to an announcement made on 2 Feb. Uphold CEO JP Thieriot stated that the launch in Europe accompanies a successful roll out in the United States:

“From April, we plan to start rolling out the world’s first, multi-asset, crypto-enabled debit card on the Optimus platform in Europe. The card has already proved a hit with our U.S. customers offering a unique combination of utility, convenience and crypto-back rewards.”

Thieriot said:

“Very soon our European customers will be able to receive part or all of their salary in Bitcoin — or any asset of their choice — and spend it using Uphold Cards issued through Optimus.”

The new card will consist of assets endorsed by Uphold’s platform which include cryptos, precious metals, U.S. equities, and carbon credits.

Optimus is one of the UK and Europe’s leading service provider of debit and credit cards. The company function as a primary card issuer and payments facilitator also supervised by  U.K.’s Financial Conduct Authority as an Electronic Money Institution. The services of Optimus is consistent with key platforms such as Apple Pay and Google Pay, as well as contactless and virtual cards.  

Uphold did not reveal the price of the acquisition in the announcement. The company did not promptly respond to the request made by Cointelegraph for a comment.

It was reported earlier that Uphold launched its multi-asset debit card in the U.S. in March 2020, to help 24 crypto assets like Bitcoin (BTC), 27 fiat currencies, and four other precious metals.  

Binance, the world’s largest crypto exchange, unveiled its crypto card in Europe in July 2020 preceding the purchase of Swipe wallet.

Source: Cointelegraph | Image: shutterstock



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