The crypto winter saw several cryptocurrency debit card issuers running out of funds and packing up their bags. However, the scenario is changing. One such case is of Payglobal. The platform now allows traders to perform crypto-fiat transfers using their bank cards. The enterprise is a UK based e-wallet services provider and has been regulated by Financial Conduct Authority (FCA).
Users in Nigeria, Australia, the European Union, Mexico and Singapore can now make crypto-fiat transfers with their bank cards. Giora Tal, CEO of Payglobal spoke to Bitcoin News and said that initially the option will be available only for Bitcoin (BTC) and Ethereum (ETH) . Payglobal will later add more crypto assets and countries to the list. Tal further said that the conversion feature will enthrall more users, as it is a catalyst in reducing friction and harboring innovation.
Giora Tal expressed his sentiments over the latest feature inclusion-
User’s will first require to complete their KYC procedures. After the completion the user needs to select a fiat they wish to conduct the withdrawal in and pay in crypto. As the transaction gets approval it will be displayed on the platform’s dashboard. Then the user can send the funds to their Visa card.
While there are several crypto-based debit cards in EU, Payglobal has taken a step higher by allowing users to load regular bank cards with cryptos. Tal also mentioned that the company’s tech is one of a kind and the first to offer such a feature in the market.
The company also has other solutions which are extremely useful for freelancers and blockchain developers. While the platform boasts of prime efficiency, the platform has a high transfer requirement of €1000. It has a minimum of €5 and a maximum of €1,000 ($1,137). The Payglobal e-wallet is not available for U.S. residents and a few other countries.
As per Payglobal’s website, it is laden with the latest and most advanced security measures in the industry. They have a comprehensive approach to security as user funds are protected by top-notch security protocols.