The UK’s first cryptocurrency credit card was launched today alongside Mastercard.
The new card – a collaboration between CoinJar and EML Payments – allows users to make purchases by converting cryptocurrencies into cash.
“With EML’s technology expertise and Mastercard’s universal acceptance, CoinJar Card offers CoinJar customers true everyday crypto functionality, whether through smartphones, wearables, eye-catching digital or physical cards. “said Lorraine Buhagiar, Brisbane’s UK chief executive. EML.
CoinJar, founded in 2013, operates across the UK and Australia and has already been used to conduct thousands of Bitcoin and Ethereum transactions.
CoinJar CEO Asher Tan added, “CoinJar Card is the next step in our mission to make crypto both accessible and useful, for everyone, every day.”
The tides are turning for crypto in the UK as momentum builds and the digital asset falls under the hawkish eyes of financial regulators.
Yesterday, the UK’s financial watchdog raised concerns over a deal that would give fellow crypto platform Binance access to a major UK payments network.
The deal would see users deposit sterling using the faster payment service, the Financial Times reported.