Bitpanda launches new Visa debit card with Contis’ zero balance tech
By Megha Bhattacharya
European neobroker Bitpanda has launched a new Visa debit card – Bitpanda Card, powered by Contis’ zero-balance Buffer technology. The zero balance technology aims to remove the need to liquidate assets before spending. This allows digital assets in Bitpanda accounts to be automatically converted to fiat at point-of-sale, both online and in-store.
Contis‘ Executive Chairman, Peter Cox, said, “Crypto continues to move forward at pace, and Contis is proud to spearhead the charge with partners such as Bitpanda. We’ve seen record levels of crypto investing this past year and cryptocurrencies are increasingly being used as an everyday currency as well as an asset.”
“Combining the practicality of fiat with the benefits of blockchain has helped prove the long-term legitimacy of digital finance. A card that allows seamless spending is one of the leading-edge innovations for crypto accounts.”
“We’re seeing considerable uptake among crypto providers for card products that include ‘zero balance’ capabilities. In partnership with Contis, industry leaders such as Bitpanda continue to drive innovation in spending crypto and deliver cutting edge products for their customers.”
According to Bitpanda, the card can be linked to any asset in a user’s portfolio and through the app, cardholders can easily switch, from cryptocurrency to gold, and spend in real-time.
Recently, Contis, a Banking-as-a-Service and payment solutions provider, teamed up with FinTech Pin4 in a bid to enable account holders to access cash via their mobile phones which they can instantly collect at any enabled ATM, including any of 12,000 Cardtronics ATMs across the UK, without the need for a card or pre-registration.
Eric Demuth, co-founder and CEO of Bitpanda, said, “Launching the Bitpanda Card together with Contis is another step in our leading vision of the personal-finance revolution, allowing everyone to spend any of their assets, be that with crypto, metals, or fiat, as they please – easily, 24/7. No topping up is required. Everything that holds value should be treated equally and should be possible to use as you wish. The Bitpanda Card is the missing piece of the puzzle in the world of digital finance.”
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February 28, 2024
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