Korea-based cryptocurrency card FuzeX is partnering with UK-based blockchain energy company Energi Mine, FinExtra reports.
The partnership will allow Energi Mine’s users to spend EnergiTokens (ETK) earned for their energy saving behavior from using energy saving white goods, to using low carbon public transport.
“FuzeX caters to a new generation of crypto-enthusiasts, those who wish to keep all their assets in cryptocurrencies and who shun regular banks. It gives them the ability to make purchases at merchants without having to hold fiat currencies,” said Andrew Bae, CEO at FuzeX.
Identical to a standard debit or credit card, the FuzeX Card contains an EMV chip, a dynamic magnetic strip, an e-paper display and three input/option buttons, allowing users to physically see the balance of their cryptocurrency accounts before spending.
Energi Mine CEO Omar Rahim says the partnership with FuzeX will allow EnergiToken holders to spend their tokens in a way that feels intuitive and natural.
“This is a perfect practical example of Energi Mine’s effort to make saving energy behavior as rewarding as possible. Users will be able to spend their ETK on whatever they want, removing one of the most significant barriers to true cryptocurrency utility,” he noted.
In the UK, FuzeX’s offering is made possible by the country’s Open Banking regulations.
By Jade Olafson