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.