Everybody agrees that for blockchain technology to gain mainstream adoption, its applications must integrate seamlessly into our daily lives. For example, online banking and social media accounts are just a few aspects of the internet we use daily without thinking about how they work.
Now imagine how close we would be to global adoption if there was a way to use cryptocurrencies as readily as we use our fiat credit cards.
Well, it is exciting to see various projects thinking and working in this direction. A prime example of such complete integration is the leading crypto-payment solution platform, Unbanked.
Unbanked is a global fintech company that has partnered with MasterCard to provide card services so that people can easily spend their cryptocurrencies in everyday situations.
The Unbanked Card
The Unbanked crypto card was a program designed to connect the current banking systems with blockchain infrastructure. Users only need to register their interest for a user account at Unbanked.com and deposit their cryptocurrency. Once the account is approved, they can get a card and begin spending their digital assets.
Due to the partnership with Moorwand, the card provides a distinctive set of financial payment and crypto services that improve the ease of utilisation of digital currencies for all cardholders. This means that users can convert cryptocurrency to fiat in real time and use them for payments anywhere cards are accepted.
In addition, Unbanked cardholders can use 15 different cryptocurrencies to fund their user accounts, including BTC, ETH, UNI, XLM, and UNBNK, the native token.
The UNBNK token is essential because it serves as the spendable base asset. This means that all cryptocurrency deposits are converted to the native token before storage.
Beyond its utility, the token has appeal as an independent investment. It is available natively on Stellar and Ethereum and has a maximum supply, making it a deflationary asset. Also, stakers can earn rewards ranging from 1-6% depending on the amount of the token they stake. $UNBNK can be purchased on decentralised exchanges like Uniswap, Sushiswap, and Lumenswap or at Unbanked.com.
On the road to global adoption
Since its founding in 2018, Unbanked has served several thousand customers and is backed by a vibrant community that invests financially and endorses the products.
With this new solution, the company hopes to further the global adoption of the blockchain.
Daniel Gouldman, Co-Founder and Co-CEO of Unbanked, commented on the launch. He said, “We have worked for over two years on building this exciting solution to make the Unbanked Card available to interested users in Europe. He also added, “It’s great to know with this launch, we will be able to provide residents in the U.K. and parts of Europe access to one of the most innovative crypto-powered cards in the market”.
Web3 brands like Litecoin Foundation, Nexo, StormX, Stacks, and other leading companies in the crypto space use Unbanked’s infrastructure. With this expansion, citizens of 200+ countries can get an FDIC bank account for buying crypto, while all Unbanked partners will have the opportunity to open their card programs to residents in the U.K. and parts of Europe. Soon, people in LATAM, Canada, India, Nigeria, etc., will be able to get debit cards too. To check which countries in Europe are eligible, head over to Unbanked.com/europe.