NetCents to offer cryptocurrency debit card
Crypto fans may soon be able to spend their holdings with a new plastic option
A new debit card option is coming to NetCents, a Canadian cryptocurrency payment provider. The company has been working on integrating the required technology into its proprietary platform to add credit cards to consumer options. The announcement was made on March 20 that NetCents will be starting a testing phase in real-world environments so the card feature can be ready in the near future.
Other cryptocurrency-based companies offer features in which pre-loaded cards are offered to consumers, but this new feature differs from the rest. One of the complaints from users that this new service aims to tackle is that, when the card needs to be loaded constantly, it robs users from crypto value appreciation that they would have received otherwise in the middle of loading and spending coins. The Netcents card will be attached directly to the user’s wallet, which allows the cryptocurrency to be spent as needed in real-time. The card has an instant settlement technology, so merchants are able to convert funds at the time of purchase.
The feature is now in its final stage of development before it can get to the public. This new integration to the existing ecosystem allows the developers to finally test the feature in the real world. So far, there haven’t been any more details shared about how long the testing will take or if there is a set date for the launch. This card will be part of the Visa network and will have a chip, pin, magstripe and near-field communication technology. On top of that, this card can be integrated into the NetCents mobile application.