Crypto currencies, such as Bitcoin (BTC), are not easy to spend in everyday life, mainly because sellers prefer to stay away from crypto variability. In order to build a bridge between traditional finances and emerging assets such as Bitcoin, a Swiss crypto producer called Eidoo has introduced a new crypto Visa debit card, which uses regulated stable coins to convert crypto to fiat.
Eidoo President Thomas Bertani said that this latest approval by Visa is part of Eidoo's partnership with Contis, a major member of Visa Europe and holder of a UK e-money license. Bertani said that Visa has approved the entire card issue flow of Contis, as well as the conversion of the crypto to fiat using stable coins issued by Moneyfold, a UK financial services company focused on stable fiat-pegged coins.
This means that Contis acts as an issuer of Eidoo Card, like other cryptographic cards such as Monolith. In the meantime, Moneyfold's Ethereum-based stablecoins, Moneyfold Euro and Moneyfold GBP, are planned to unlock a higher degree of decentralization and transparency in the process of converting between crypto and fiat.
