The UK’s first crypto-to-pound credit card has been launched today alongside Mastercard.
The new card – a collaboration between CoinJar and EML Payments – allows users to make purchases by converting cryptocurrencies into cash.
”With EML’s technological expertise and Mastercard’s universal acceptance, CoinJar Card gives CoinJar’s customers true day-to-day crypto functionality, whether through smartphones, wearables, digital or eye-catching physical cards,” said Lorraine Buhagiar, UK managing director at Brisbane-based EML.
CoinJar, founded in 2013, operates across the UK and Australia and has already been used to make thousands of transactions in both Bitcoin and Ethereum.
CoinJar CEO Asher Tan added: ”CoinJar Card is the next step in our mission to make crypto both accessible and useful, to everyone, every day.”
The tides are turning for crypto in the UK, as momentum picks up the pace and the digital asset falls under the hawkish eyes of financial regulators.
The UK’s financial watchdog yesterday expressed concerned about a deal reportedly giving fellow crypto platform Binance access to a large UK payments network.
The deal would see users deposit sterling using the Faster Payment Service, the Financial Times reported.