socios fiat-crypto prepaid debit card
Socios To Launch VIP Membership and Fiat-Crypto Prepaid Debit Card
February 25, 2020
socios fiat-crypto prepaid debit card
Socios To Launch VIP Membership and Fiat-Crypto Prepaid Debit Card
February 25, 2020

Sports fan token project Socios announced the launch of an integrated membership and fiat-crypto prepaid debit card.

On Feb. 24 the announcement was made on the crypto prepaid debit card which also provides blockchain-based global ID functionality.

Ahead of the product’s launch, Socios says it is continuing to review several crypto and non-crypto partners before determining who the card issuer will be. Socios CEO Alexandre Dreyfus said the firm had previously been contacted by and been engaging with partner firms of Visa and MasterCard.

Socios runs a crypto fan token ecosystem, which includes a tokenized voting platform and a blockchain-based mobile app. The venture is operated by sports blockchain firm Chiliz, which counts the backing of high profile crypto industry players such as Binance and OK Blockchain Capital.

ALSO READ :  OKEx Collaborates With Four Major Partners For Its Utility Token OKB

Tokens ($CHZ) are used to drive fan engagement by conferring voting rights in polls, as well as granting holders access to merchandise, rewards, and games.

As it evolves this platform, Socios has now integrated a blockchain-based global ID number for the Socios mobile app, which serves as a Know Your Customer (KYC) identity tool.

Dreyfus said:

“One of the most important developments for us will be the ID on the blockchain, this could be critical in the next years with sports events who need to check your ID.”

Once launched, the prepaid card will include this blockchain ID and link directly to users’ wallets, enabling them to spend $CHZ, but also other currencies. Although, which currencies these will be exactly, crypto or otherwise, has not yet been announced.

The prepaid card will also serve as a membership card so that it can be used both for regular payments and to redeem blockchain token rewards or access various offers and discounts.

ALSO READ :  MEME Coin Gains 100% In 24-Hours To Post All-Time High Of $1,775 After Being Listed On Poloniex



Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.