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Payglobal now allows Crypto-fiat transfers using Bank Cards

The cryptocurrency 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 cryptocurrency coins 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.

From the CEO’s Desk

Giora Tal expressed his sentiments over the latest feature inclusion- 

“Converting cryptocurrency to fiat money and sending it to your existing bank card through our regulated e-wallet platform provides customers with a quick and easy way to access their funds worldwide. The way we can transfer money from person to person, or company to a person is constantly evolving and we are delighted to be the pioneers paving these new payment channels.”

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 cryptocurrency. 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 cryptocurrency-based debit cards in EU, Payglobal has taken a step higher by allowing users to load regular bank cards with cryptocurrency. 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.

About Payglobal

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.