Spain’s 2gether Unveils Crypto Debit Card, as Polispay Is Forced to Cancel Its Mastercard

Fee-Free Card Available for Users in the Eurozone
In a statement, 2gether revealed that the card “instantly” converts the cryptocurrency to fiat currency. Users within the 19-member Eurozone economic bloc can utilize the card without paying any fees. The Madrid-based banking startup believes that with its prepaid card it is solving problems associated with making purchases using virtual currencies. “Currently, spending crypto is a long and difficult process involving exchanges, personal keys, and lots of waiting,” the company stated. Customers are expected to complete full KYC verification to use the card. Thereafter, they will be able to manage their balances online through a mobile app that also allows users to trade cryptocurrencies. 2gether, which was founded in 2016, has stated that purchases are offered at “no mark-ups to exchange prices.”
Polispay Cancels Crypto Debit Card
Meanwhile, Mexico-based Polispay has canceled its Mastercard cryptocurrency debit card for users outside of the South American country. The company blames its Mexican card provider for violating Mastercard rules. In a statement released March 18, Polispay lamented:It has come to our knowledge … that our provider was having a set of problems with Mastercard. Mastercard never gave them permission to sell cards outside of Mexico, a situation we were unaware of as we had been guaranteed our provider had the faculties and required licensing to do so.With immediate effect, Polispay will no longer to be able to issue its prepaid crypto debit card outside of Mexico. Cards already in existence outside of the country no longer work as Mastercard will not validate their transactions. Polispay deposits, shifts and new/existing card orders have been suspended until further notice.

Images courtesy of Shutterstock and 2gether.
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