Gate Group, the company behind the popular exchange Gate.io, plans to launch a European crypto debit card to expand its reach to European countries. Users can seamlessly convert and spend their crypto assets with the card in everyday purchases.
One of the factors that push adoption in the crypto space is continuous developments. As each firm operating in the sector expands its reach to different countries, more users will join the industry, increasing knowledge and eventual adoption.
Gate.io Debit Card To Push Adoption
Gate Group plans to launch the card with the support of its Lithuania-based company Gate Global UAB. According to a Twitter post, the card will enable users to complete crypto-to-fiat conversions for online and in-store purchases.
It will make the process faster and more secure, enabling the holders to buy from up to 80 million merchants that support Visa worldwide. Also, users can control their spending with the card app offering user-friendly features to manage and track expenditures on the go.
While writing about the latest development, the Gate Group Founder and CEO, Dr. Lin Han, stated that the card would enable Gate.io users to make easy crypto payments to thousands of merchants worldwide. He went further to state that the card bridges the gap between crypto and the everyday lives of its users, promoting broader financial inclusion for them.
The Head of Crypto at Visa, Cuy Sheffield, stated that Visa aims to link the crypto ecosystem to its global network of merchants and financial institutions.
He further noted that the Gate Visa debit card would enable users to utilize digital assets in all the places Visa is accepted globally. Sheffield also shared a post on Twitter reiterating that Visa aims to support the crypto industry.
Gate Group Continues Support For Crypto
Since its launch in 2013, Gate Group has continued pushing the crypto industry forward with constant innovations.
The firm has advanced in its services covering a different sector of the industry, such as establishing a crypto exchange, developing a public blockchain, providing wallet services, supporting the decentralized finance movement, venturing into research and analysis, engaging in venture capital investing, creating startup incubator labs and others.
The popular Gate.io crypto exchange under the group offers extensive trading services integrating the innovative Proof of Reserve to uphold transparency in operations. The exchange records more than 12 million users worldwide and is amongst the top 10 exchanges on Coingecko based on trading volume and liquidity.
Featured image from Pixabay and chart from Tradingview.com