Gnosis Launches Visa Card that Allows Spending Self-Custodied Cryptocurrencies in Europe, Soon in the US and Hong Kong

Gnosis, one of the leading blockchain technology companies, recently launched a Visa card that allows users to spend their self-custodied cryptocurrencies at establishments in Europe.

The integration of cryptocurrency payments with traditional credit card networks is a significant milestone for the mass adoption of digital currencies. While many cryptocurrency enthusiasts prefer to maintain custody of their assets, the ability to spend them at physical and online stores is essential for the utility and widespread adoption of these currencies.

Gnosis' Visa card allows users to link their self-custodied cryptocurrency wallets to the platform. This way, users do not need to transfer their coins to a centralized wallet, thus maintaining full control of their assets. This feature is especially attractive to those who wish to retain custody of their cryptocurrencies, thereby avoiding the risk of cyber attacks and theft.

Furthermore, Gnosis offers users the manual option to convert their cryptocurrencies into fiat currencies, such as the euro, US dollar, and Hong Kong dollar, at the time of purchase. This allows users to spend their cryptocurrencies at any establishment that accepts Visa payments, regardless of whether they directly accept cryptocurrencies.

The company plans to expand this service to the United States and Hong Kong soon.

Source: techcrunch