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1inch Network, a decentralized exchange (DEX) aggregator introduced its Web3 debit card in partnership with a crypto card.
1inch in partnership with Mastercard will allow users to make online and in-person purchases and withdraw cash using a debit card at supported ATMs. The new step is anticipated to bridge the gap between Web3 and Web2 with the newly launched debit card. Partnering with Mastercard and Crypto Life also ensured top-notch security and convenience for the users.
1inch & Mastercard Are Revolutionizing The Financial World
On April 8, a post on X by 1inch filled crypto lovers with joy as the DEX aggregator announced launching a debit card in partnership with Mastercard.
1/ Hot off the press!
— 1inch Network (@1inch) April 8, 2024
We're unveiling the groundbreaking 💳 #1inchCard in partnership with @Mastercard and @CL_Technology!
Your #crypto is about to go from hodl to spend, online and in-person, wrapped in an exclusive design.
👉 Get early access: https://t.co/SHaFiOj7u4#DeFi pic.twitter.com/ldX5K5b0ap
Segej Kunz, the co-founder of 1inch, showcased the card’s features and functionalities of the debit card.
The newly launched 1inch debit card can be used for making an online and offline purchase as well as for withdrawing money for the ATMs supporting Mastercard. collaboration with Mastercard and Crypto Life, on the other hand, enhanced the utility, security, and convenience.
The debit card will act as a bridge for crypto-to-fiat functions, permitting users to make physical and virtual use of the card. The key motive behind the card launch is to deliver the users with the most efficient and user-friendly service to make individuals’ journeys seamless in the financial world.
1inch Web3 card filled the gap between Web2 and Web3 along with delivering a chance to use the finance from crypto to fiat currency more safely and conveniently. Interestingly, the card will be available in both physical as well as virtual forms, making it convenient for the users to carry the card.
Just like other debit cards, 1inch’s cards will have a number, CVC, and a validity date and require users to hold digital assets in their 1inch wallet. The card can be used for making daily purchases at in-person stores. It supports Apple Pay/ Google Pay along with offering cash on the go.
As of now, the card is available for crypto users in the UK and European Economic Area (EEA) including France, Finland, Denmark, Belgium, etc.
“Leveraging Mastercard’s leading technology and standards, the 1inch Card is connecting Web2 and Web3 worlds innovatively”, said Christian Rau, Mastercard’s senior vice president.
About 1inch
1inch is a DEX aggregator that enables the fastest, most lucrative, and most protected functions in the Decentralized Finance (DeFi) space. The network was launched in December 2020 by Sergej Kunz, and operates with 1INCH, an ERC-20 governance and utility token.
According to CoinMarketCap data, 1INCH token is trading at $0.5938, after a hike of 1.88% in the past day with a market cap of $680,792,216. The token has a total supply of 1,500,000,000 1INCH and a circulating supply of 1,146,078,847 1INCH.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
