New Nexo Crypto Debit Card Lets Users Pay Without Selling Crypto

New Nexo Crypto Debit Card Lets Users Pay Without Selling Crypto

Nexo, a major cryptocurrency loan company, has officially launched a Mastercard that is crypto-backed–enabling users to pay for services using their cryptocurrency holdings, without having to sell their cryptocurrency tokens and coins first.

The firm announced on Wednesday that they have partnered with Mastercard and the peer-to-peer payment startup, DiPocket, to launch the Nexo Card. Using the Nexo Card, users will be able to use their cryptocurrency as collateral instead of selling it, according to Nexo. The collateral will be subject to repayments in accordance with Nexo’s terms and conditions.

To facilitate these crypto-based payments, the card will link to Nexo’s crypto-backed credit line. This will allow users to use several assets as collateral, including Ether (ETH), Bitcoin (BTC), the Tether (USDT) stablecoin, and a number of other digital assets.

Resource: CoinQuora