Singapore-based cryptocurrency exchange Coinbene announced the launch of the card, claiming that it will integrate "100% cryptocurrency." An official CoinBene blog post states that the card can be used for any activity, including withdrawing and depositing cash, paying bills, transfers and even integrating with WeChat. The project was launched in Brazil by Coinbene Brazil.
The cardholder will be able to pay bills, keep track of their balance and receive cashback via applications. In addition, deposits can be made directly from the CoinBene user's account via bank transfer. The exchange claims that the CoinBene card allows users to make instant transactions without commission, using a QR code. In addition, a CoinBene Card client can withdraw money in any establishment that has the label “Friendly Withdraw”.
Thanks to the cooperation with MasterCard, cardholders will be able to use the company's global service network, also leveraging CoinBene’s channels for the conversion of digital currency assets and Brazilian fiat currency. In an official announcement, CoinBene Brazil CEO Feng BO said:
“The CoinBene and MasterCard’s co-branded card will celebrate the 70th anniversary of the People’s Republic of China, targeting 300,000 Chinese immigrants in Brazil, as well as millions of Brazilian local users radiating from Chinese merchants.”
Image courtesy of Coinbene