The success of cryptocurrencies in the past decade has led to increasing adoption by businesses and retailers seeking to expand their customer base with fast and efficient payment methods.
More merchants have increasingly adopted the use of cryptocurrencies as an alternative form of payment due to low transaction fees. However there remains the problem of converting these digital assets into fiat currency and this has led to the growth of crypto processing platforms.
These platforms offer merchants a quick and user-friendly way to integrate crypto-payments into their online stores and offer additional options like a wallet and customer support services. Unbanked, an SEC registered US-based company is one of the outliers in this sector and is driving the adoption of crypto payments globally.
A unique crypto payment processing ecosystem
Unbanked offers users unprecedented access to crypto payments and global accessibility. It combines efficiency and utility of digital currencies with the familiarity of existing financial system.
It is integrated directly with banks and card networks including VISA enabling merchants to directly withdraw their assets to fiat currency of their choice. In addition, residents of 200+ countries can get an FDIC bank account for buying crypto at Unbanked.com.
Unbanked’s infrastructure is licensed and utilized by other Web3 organizations such as StormX, Nexo, Stacks and others. Unbanked is also the underlying provider of Litecoin Card the official debit card of the Litecoin foundation. These features shows that Unbanked has a real business model to support its operations and generates profit towards building sustainable products.
Unbanked’s ecosystem is not complete without its native utility token called UNBNK. This unique token is available on the Stellar and Ethereum blockchain and can be swapped 1:1 at Unbanked.com.
UNBNK is the base token asset on its debit card that facilitates transactions within its ecosystem. So when users deposit their crypto assets, it is converted to UNBNK and held on the card until it is withdrawn or spent on a transaction. In addition, card holders can stake UNBNK to earn up to 1-6% back in cash spend rewards.
Unbanked Expands into Europe with crypto card program
As part of its goals to foster crypto adoption globally, Unbanked has partnered with Moorwand to offer European residents crypto cards. Holders will be able to spend utilize these cards in making transactions across hundreds of merchants globally.
Residents of the the United Kingdom and other European nations can express interest in opening an account, depositing cryptocurrencies, and, if approved, receiving a card for using their digital assets.
Unbanked card holders can finance their user accounts with 15 different cryptocurrencies, including BTC, ETH, UNI, XLM, and UNBNK. In addition, the card offers a distinctive range of financial, payment, and crypto services that increase cardholders’ access to and use digital currencies.
Speaking on the development, Daniel Gouldman, co-founder, and co-CEO of Unbanked, “We have worked for over two years on building this exciting solution to make the Unbanked Card available to interested users in Europe.” It’s wonderful to know that, with this launch, citizens of the U.K. and some regions of Europe will have access to one of the market’s most cutting-edge crypto-powered cards.
Unbanked is a blockchain-based worldwide finance solution. Based on the principle that having access to and control over one’s finances is a fundamental human right, Unbanked links traditional business, fintech, and banking institutions with blockchain infrastructure to increase the use of cryptocurrencies for everyday transactions and investment.
The company offers a range of highly customized financial products that let people who are banked, unbanked, or underbanked design a financial experience that is as individual as their way of life.