Contis and Bitpanda Issue Multi-Asset Debit Card
- Credit Cards
- 02.03.2021 06:00 pm
A new Visa debit card from European neobroker Bitpanda launched this week. Combining Contis’ unique “zero-balance” Buffer technology with Bitpanda’s European-wide, multi-service platform has created one of the most powerful multi-asset propositions available – the Bitpanda Card.
New ‘zero balance’ technology removes the need to liquidate assets before spending. Any digital assets a user has in their Bitpanda account can now be converted automatically to fiat at point-of sale, both online and in store, wherever Visa is accepted.
With more than 55 digital assets such as cryptocurrencies, precious metals and fiat available to hold on the Bitpanda platform, this card pushes the boundaries of crypto and asset spending in Europe. The card can be linked to any asset in a user's Bitpanda portfolio and through the app, cardholders can easily switch, say from cryptocurrency to gold, and spend in real-time.
Contis Executive Chairman, Peter Cox, said: “Crypto continues to move forward at pace, and Contis is proud to spearhead the charge with partners such as Bitpanda. We’ve seen record levels of crypto investing this past year and cryptocurrencies are increasingly being used as an everyday currency as well as an asset.
“Combining the practicality of fiat with the benefits of blockchain has helped prove the long-term legitimacy of digital finance. A card that allows seamless spending is one of the leading-edge innovations for crypto accounts.
“We’re seeing considerable uptake among crypto providers for card products that include ‘zero balance’ capabilities. In partnership with Contis, industry leaders such as Bitpanda continue to drive innovation in spending crypto and deliver cutting edge products for their customers.”
Eric Demuth, co-founder and CEO of Bitpanda, said: “Launching the Bitpanda Card together with Contis is another step in our leading vision of the personal finance revolution, allowing everyone to spend any of their assets, be that with crypto, metals, or fiat, as they please - easily, 24/7. No topping up is required. Everything that holds value should be treated equally and should be possible to use as you wish. The Bitpanda Card is the missing piece of the puzzle in the world of digital finance.”