Floki and Mastercard Introduce Crypto Debit Card
10 Dec, 2024 ● Coin news
Floki and Mastercard have launched a debit card available in both physical and virtual formats, covering 31 European countries.
The card supports funding through FLOKI and other cryptocurrencies, enabling users to transact seamlessly across eight blockchains.
The Floki Debit Card is accessible in 31 countries across the European Union and European Free Trade Association states, with virtual gift cards offered globally.
Issued in partnership with Mastercard, the card can be used wherever Visa and Mastercard payments are accepted.
While there are no transaction fees, users incur a 2% top-up charge and one-time setup fees. The card has a daily spending limit of 5,000 Tether.
It can be funded using a range of cryptocurrencies, including Floki Inu, Bitcoin, Ethereum, USDT, USDC, Solana, DOGS, Hamster Kombat, The Open Network, and Notcoin.
Floki first announced its plans to issue a debit card in March, marking a significant milestone on its roadmap.
Named after Elon Musk’s dog, Floki has cultivated a dedicated community of “Vikings” and boasts a $2.63 billion market cap with a total supply of 9.67 trillion coins.
The project’s flagship Valhalla gaming metaverse is set to launch on its mainnet in the first quarter of 2025 following delays.
The Floki ecosystem operates on Ethereum and BNB Smart Chain networks.
The Floki Debit Card adds to the growing list of crypto-powered payment solutions supported by Visa and Mastercard. Referred to as the "Visa-Mastercard duopoly," these two giants have made significant inroads into the cryptoverse.
Earlier in December, Mastercard partnered with Crypto.com to issue a debit card for the Gulf Cooperation Council region.
In August 2023, it collaborated with Nexo, a decentralized lending platform, to launch credit cards in Europe.
In April, Mastercard teamed up with Baanx and 1inch Network to release a cryptocurrency debit card in Europe.
Similarly, MetaMask partnered with Mastercard and Baanx to issue a payment card for European users.
Visa has also made strides, recently collaborating with Puerto Rico-based FV Bank fintech and the Avalanche Foundation to provide crypto debit cards.
Sources:
https://cointelegraph.com/news/floki-mastercard-launch-13-crypto-debit-card-europe
https://floki.com/debit-card#faq
https://blog.floki.com/floki-roadmap-whats-next-on-our-agenda-3e957b56d277
