CEX.IO Intends to Issue Crypto-Based Debit Cards Via a New Partnership

International cryptocurrency exchange CEX.IO is set to introduce a new line of crypto-based debit cards for its customers across the UK and Europe.

CEX.IO users will soon be able to buy 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 listed on the platform via cards, in their local currencies, and without any time loss due to frictions between traditional finance and crypto industries.

Initially, the payment cards will feature GBP, EUR and USD as the main settlement currencies, with most of the fiat and cryptocurrency assets available on CEX.IO to become usable later on.

Using the new card service, clients will be able to spend their crypto funds directly at millions of merchants worldwide. Transactions will be straightforward and instant, as if they were paying with a traditional bank card.

CEX.IO is launching its new service in partnership with the financial technology giant FIS. Within this cooperation, FIS will act as the processing partner.

"We are delighted to launch our new crypto-based debit card service in partnership with FIS. As a trusted and reliable financial technology provider, FIS has extensive expertise and industry know-how. We will leverage these advantages to simplify our business operations and offer best acceptance rates with worldwide coverage to our customers," - Konstantin Anissimov, Executive Director at CEX.IO, stated.

“As cryptocurrencies continue to gain mainstream adoption, consumers are increasingly seeking simple, convenient payment methods for making crypto-based purchases using cards and other familiar financial products. We’re delighted to expand our relationship with CEX.IO to help them provide exciting new card options to their customers and support their continued growth,” - said Kelly Beatty, Head of Payment Solutions at FIS.

About CEX.IO

Founded in 2013, the UK-based CEX.IO operates one of the largest international ecosystems of cryptocurrency products.

From entry-level users to professional traders as well as institutions and businesses, over 4 million customers worldwide buy, sell, trade, exchange, stake, and borrow against cryptocurrencies using CEX.IO products.

About FIS

Founded in 1968 and headquartered in Florida, FIS is a leading financial technology provider with a long-standing history that serves merchants, banks, and capital market firms globally.

With the goal to advance the realm of Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, the company helps its clients leverage innovation to stay ahead of their competitors by solving business challenges and offering a superior user experience for their customers.