1inch Launches a Crypto Debit Card
Main page News, Cryptocurrency
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9 April

DeFi company 1inch Network has launched a new debit card that allows users to easily convert cryptos into fiat money.

The card, which has been developed in collaboration with Mastercard and Baanx, offers a physical and a virtual option with full functionality, including an account number, expiration date and CVC security code.

Christian Rau, senior vice president of cryptocurrencies and financial technology at Mastercard, has explained the card is a much-needed bridge between the Web3 and Web2 worlds.

Although many cryptocurrency exchanges have options to convert fiat money into cryptocurrencies and vice versa, this can slow down transactions and lead to additional fees and security risks.

Sergej Kunz, 1inch co-founder, said:

"This is another major step towards onboarding mass users to DeFi. With the 1inch Card, the user can benefit from the advantages of both DeFi and traditional finance."

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