Nexo: offers payment card allowing users to retain their crypto

Nexo, a company that specializes in cryptocurrency lending, has officially announced its relationship with Mastercard. According to information available on Reuters, the goal of this partnership is to create a new card whose operation will be based on cryptomonnaies.

Loans with a Mastercard card

Nexo will make it possible to use a card to obtain cryptocurrency loans in the near future. « The card is linked to a cryptocurrency-specific credit line, allowing investors to spend up to 90% of the value of their assets in fiat currency », according to Nexo. The company has also stated that the card allows its users to make purchases without having to sell their digital assets.

Without a doubt, if this card becomes operational, it will be a first in the financial landscape of cryptocurrency. Nexo has stated, however, that the card would not be available in all parts of the world at first. She will only be usable in a few European countries, but she may be accepted all over the world. People will be able to use digital assets as guarantees as well.

Growing collaborations

Mastercard has stated that it is pleased with this new partnership, which will be added to the extensive list of collaborations that the company has established with other companies specializing in the field of cryptocurrency. « Mastercard recognizes that digital assets are revolutionizing the financial landscape, » said Raj Dhamodharan, Mastercard's head of cryptocurrency and blockchain products and partnerships.

That a group of large corporations has banded together to use cryptocurrency to revolutionize financial practices is something that makes me happy! It's worth noting that in the cases of Mastercard and Nexo, a third party, DiPocket, is involved. She is the holder of the Nexo card.

Mastercard isn't just interested in cryptocurrency; it's also interested in the metaverse. The Block announced last week that she had registered 15 cryptocurrency and cryptocurrency trademarks on a 1b basis, indicating that they intend to use them at some point in the future.

Nexo, a Swiss company, has announced that it is now working with Mastercard (and DiPocket) to develop a new generation of crypto-friendly cards. This allows his clients to complete loans and put their digital assets under protection.