KuCoin's Visa debit card KuCard has added support for multiple virtual and physical cards starting July 1, 2024, the company announced today (Friday). This latest offering will enable users to manage multiple cards and access a cashback program.

Eying Flexibility in Personal Finance

KuCard promises enhanced financial flexibility for personal use, managing family expenses, or keeping separate cards for different spending categories. This feature reportedly allows for enhanced budgeting, improved expense tracking, and easier access to funds. Additionally, users can access KuCard's crypto-to-fiat conversion and cashback rewards.

To mark this launch, KuCard has reportedly unveiled a limited-time offer ending on July 7, whereby users can apply for a second virtual card for free or a second physical card for EUR 9.99. This promotion is reportedly available on a first-come, first-served basis.

Launched in November 2023, KuCard is a Visa debit card that simplifies financial transactions by automatically converting cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term into local currency at the point of sale. The platform recently introduced cashback programs offering up to 3% on purchases for all cardholders.

KuCard is compatible with Google Pay and Apple Pay and can be used anywhere Visa is accepted. Initially available in the European Economic Area (EEA), the card aims to promote the adoption of blockchain technology by enabling users to use their cryptocurrency for everyday purchases, online shopping, and ATM withdrawals.

Other Developments at KuCoin

This latest development comes amid the crypto exchange’s new tax policy for its Nigerian users. A few days ago, KuCoin announced that it would impose a 7.5% value-added tax (VAT) starting July 8 on transaction fees for users with Know Your Customer (KYC Know Your Customer (KYC) Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes to anti-money laundering regulations, any type of financial fraud and determining whether they are potentially risky for the brokerage.In particular, KYC guidelines in financial services mandate that individuals make a cohesive effort to verify the identity, suitability, and risks Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes to anti-money laundering regulations, any type of financial fraud and determining whether they are potentially risky for the brokerage.In particular, KYC guidelines in financial services mandate that individuals make a cohesive effort to verify the identity, suitability, and risks Read this Term) information registered in Nigeria.

However, the crypto exchange clarified that the new tax policy only applies to the fee charged per transaction and not the overall transaction amount. In February, KuCoin collaborated with Revolut on a new method for purchasing digital assets using euros. This collaboration enables users to acquire various cryptocurrencies listed on the cryptocurrency exchange through Revolut Pay.

KuCoin’s partnership with Revolut seeks to simplify the process of acquiring crypto for European users. Revolut Pay enables users to convert euros to a variety of supported cryptocurrencies. This partnership addresses the growing demand for easy access to digital assets, especially amidst the ongoing surge in the value of Bitcoin.