Earlier this year, Ternio announced it was enabling users to register for a cryptocurrency supported debit card account. The crypto-based account is paired with a physical debit card that enables the cardholder to convert the value of their cryptocurrency to dollars at the point of sale. Today it was announced that Ternio’s BlockCard will operate on VISA.
Ternio’s BlockCard account supports multiple cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Stellar Lumens (XLM) and Ternio (TERN). Consumers holding those cryptocurrencies will be able to deposit them in their BlockCard account at GetBlockCard.com.
Users will also have the option to select between a virtual card, plastic card, or metal card. Over 6,000 people signed up for a BlockCard account prior to launch.
“Millions of people hold cryptocurrency, but until today there was not an easy to use option for them to quickly and efficiently spend the value of their crypto,” said Daniel Gouldman, CEO of Ternio. “Ternio’s BlockCard account is a paradigm shift for the crypto ecosystem – enabling anyone to quickly sign up, fund their account, and keep the value in crypto until the point of swiping their card with the merchant.”
The BlockCard Visa debit card is issued by Metropolitan Commercial Bank (member FDIC) pursuant to a license from Visa U.S.A. Inc.