As financial payment giants express growing willingness to let cardholders transact with cryptocurrency, the Gleec blockchain-based digital ecosystem recently announced the launch of a new Gleec Visa crypto card and accompanying card app.
According to the Gleec team, the new Gleec Visa top-up card is completely free excluding a delivery fee for the physical card. Cards feature a modern and high-end design and offer holders low monthly fees, ATM withdrawals, no foreign transaction fees, high spending limits (up to €10,000 a month), the ability to spend virtual currency seamlessly, and opportunities to take advantage of contactless payment technology like ApplePay.
— Gleec (@GleecOfficial) February 22, 2021
To request a physical and virtual version of the Gleec Visa, a prospective user needs to download the new beta version of the card app, verify identification, and complete a short onboarding process.
Use of the beta app offers the Gleec community with a chance to test and evaluate the new platform.
Requested prepaid cards can then be loaded with a cryptocurrency of choice and used to transact in more than 170 nations, and at over 40 million retailers. All card transactions are denominated in fiat currency, with crypto-to-fiat exchanges occurring before users can load their card for Visa network use.
The Gleec team notes their card is one of the few top-up options with a small range of country restrictions. Accessibility currently covers most of Asia, the European Union, and other jurisdictions, with an addressable market of nearly one billion people in total.
The launch of Gleec’s new Visa card and app signifies a growing bridge between the traditional and fiat financial worlds as payment processors and financial services entities express a willingness to work with crypto.
Mastercard makes waves as crypto cards emerge
Payments giant Mastercard made headlines in mid-February 2021 after announcing it would soon begin to support some crypto directly on its network. The firm indicates it has seen customers utilize crypto cards to access assets and convert to fiat options. Mastercard says it is also working with some central banks to review plans to launch CBDCs (central bank digital currencies). The company has also partnered with crypto card providers like Wirex and BitPay.
Early in February, digital finance platform Uphold announced the acquisition of card-issuer Optimus Cards UK, paving the way to launch a “crypto-enabled” card across Europe. Uphold writes the purchase came with a full Electronic Money Institution license from the UK’s FCA after passing the notoriously rigorous ‘Change in Control’ process.
Uphold CEO JP Thieriot says European customers will soon be able to receive part of their salary in Bitcoin or other crypto “and spend it using Uphold Cards issued through Optimus”.
Card and app another component of Gleec’s growing blockchain-based infrastructure
The new product launched by the Gleec team comes on the heels of the release of the Gleec BTC crypto exchange, offering users access to trade with Gleec Coin and accompanying trading pairs. The exchange is licensed in Estonia by the Agency of Economic Activities and can be accessed through a computer or user-friendly mobile app on the Google Play and iOS Apple Store.
A Gleec press release explains the exchange utilizes white-label software from Scalable Solutions, whose industry-leading trading engine has helped exchanges grow to new heights.
The Gleec team writes the new exchange will profit from “deep liquidity, battle-tested security, and a modular approach to technology that will enable them to easily scale as needed.”
The launch of Gleec BTC, the Gleec Visa top-up card, and the card app come after a successful market entry with Gleec Coin, a Bitcoin fork unveiled in 2019. Gleec says its expansion into the world of crypto cards stands in line with a company mission to “deploy and promote technology solutions that improve and simplify daily lives, with focus on crypto usability.”