Bit2Me, made the announcement about their new cashback debit card on Feb 10.
Both the card and the wallet are compatible with eight different cryptocurrencies.
As crypto-backed debit cards gain popularity, the overlap between Web2 and Web3 technologies increases. The biggest Spanish bitcoin exchange, Bit2Me, made the announcement about their new cashback debit card with Mastercard on February 10.
Bit2Me CEO and co-founder Leif Ferreira told that he believes the widespread acceptance of this “revolutionary” technology would be aided by the usage of familiar Web2 financial instruments like debit and credit cards.
Upto 9% Crypto Cashback
The initial Bit2Me card enables its users to make purchases at any of the millions of locations accepted by the Mastercard network. All purchases, whether done online or in a shop, now qualify for up to 9% crypto cashback according to the latest update.
Both the card and the wallet are compatible with eight different cryptocurrencies. Apparently, the firm has plans to roll out support for many more currencies later this year. 69 nations now have access to Bit2Me. However, residents of the European Economic Area (EEA) may only apply for a digital card.
Since its first statement in 2021 to provide services internationally, Bit2Me has been planning for the extension of its services.
When the local Spanish trading platform 2gether suddenly shut down in July, the exchange sprang into action to assist the affected users, some 100,000 in all, migrated to its platform.
At the same time, Mastercard has been very proactive in the Web3 market, providing new services and possibilities to its users and customers. In the last 12 months, it has selected at least seven blockchain and cryptocurrency firms to participate in its fintech accelerator programme.
In addition, they collaborated with Polygon to develop a Web3 musician accelerator programme that places an emphasis on the integration of new technologies into the music world.