The card “makes it possible for users to convert Bitcoin into a spendable dollar, euro or pound balance” on the card in a matter of minutes, the company says.
According to Bitpay, this is the first prepaid Visa-branded debit card for Bitcoin users in such major countries as the US, Argentina, Brazil, China, Germany and Japan. The card taps into a Bitcoin market that Bitpay estimates is worth some $36 billion.
“The card solves a major problem for early blockchain payments adopters: how to convert Bitcoin received, earned, or saved into a balance spendable with everyday Visa-accepting merchants and Visa-compatible ATMs,” Bitpay states.
FirstView Financial is the programme manager and processor for the US operations.
Bitpay is working with WaveCrest for the international rollout.