Cryptocurrency Debit Card Provider Cryptopay Facilitates Pound Based Deposits & Withdrawals October 9, 2019 October 9, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 9, 2019 by Kelly Cromley

Cryptocurrency Debit Card Provider Cryptopay Facilitates Pound Based Deposits & Withdrawals

Cryptopay, crypto wallet and debit card provider, has started facilitating transfer with the British Pound (GBP) via the Faster Payments Scheme.

Specifically, the UK based users can add fund to their account or make withdrawals in British Pounds, avoiding the charges related to conversion from GBP to euro.

The press release further states:

“Upon activation users will get their own sort code and account number, which means that the transfers will bear the account holder’s name, not Cryptopay. This is especially important as some banks may block crypto-related transactions resulting in money getting stuck with no way to withdraw.”

The company is currently focused on European card plan, with prepaid cards being issued already in Russia. By the end of this year, Cryptopay intends to unveil a series of services such as ERC20 tokens wallet and exchange, Bitcoin bank accounts and Bitcoin (BTC) brokerage.

Earlier this year, there was news alleging Visa ending its business relationship with debit card vendor WaveCrest. Similar news related to Bitwala, Wirex, CryptoPay and many more came up.

Initially, many analysts perceived it as a crackdown on the crypto industry but later found to be violation of Visa’s guidelines by WaveCrest.

Notably, OmiseGo, a finance centered scaling platform for Ethereum, joined hands with Hydro Labs in an effort to simplify Hydro Pay Ethereum-based dealings.

Samsung Pay, a mobile payment service provider and subsidiary of electronics giant Samsung, unveiled collaboration with payments platform Finablr to provide trans-border payments facility ‘Money Transfer’ to its app users. Notably, Finablr is member of RippleNet.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.