Mycelium partners with BlocPal to integrate its services to Mycelium wallet
By Pavithra R
Mycelium, leading private and secure digital banking provider, has announced that the company has partnered with BlocPal International, a global FinTech and blockchain technology company, to strengthen its offering of crypto-fiat features in their next-generation Mycelium Wallet.
Mycelium is the creator of The Default Bitcoin Wallet and is upgrading the solution to provide consumers with more options to use their crypto to transact with traditional fiat banking and payment-related services. The Mycelium wallet launched in 2012 and has over 2.2 mn downloads on the Android and Apple app stores. According to company data, the platform has an active user base of over 235,000 users facilitating over 10 thousand daily cryptocurrency transactions. The partnership is expected to provide Mycelium users in the USA and Canada with a Mycelium credit card, which can be loaded from their Mycelium wallet balances. The firm has plans to roll out its credit cards to users across Europe, the United Kingdom, and South America in the future.
“This strategic partnership with BlocPal helps us continue to scale as a global, consumer-focused brand. By offering more options to use crypto together with traditional fiat payment transactions and bank cards, we are able to deliver a powerful, fully integrated experience to our users,” said Alexander Kuzmin, founder, and CEO of Mycelium.
Under the collaboration, the upgraded Mycelium wallet will allow users to create native BlocPal blockchain wallet addresses and deposit BTC, XRP, BCH, BSV, LTC, ETH, and USDT to their wallet address to conduct instant transactions with each of these cryptocurrencies. Users can use the deposited crypto funds to load their virtual and physical Mycelium credit cards for transactions with global merchants. Users will also be able to recharge airtime minutes with over 132 countries worldwide, make bill payments and payments with crypto instantly at any merchant participating in the BlocPal merchant network.
“We are really excited to have Mycelium integrate BlocPal’s services into the Mycelium wallet. Partnering with such a well respected brand is a great way to showcase our integrated fintech services for digital wallets. We are committed to helping the Mycelium team achieve its goals for future service levels and consumer adoption,” said Nick Mellios, CEO of BlocPal.
Founded in 2017, Vancouver-based BlocPal is a provider of first-of-class enterprise, blockchain-based technology to both consumers and enterprise customers. It provides customers with digital transaction solutions via API and customized white label services. The firm provides its services within the regulatory framework and with a particular focus on fraud prevention, KYC, and anti-money laundering procedures.
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