According to Odaily Planet Daily, Simon Jones, Chief Business Officer of Baanx, talked about the key role of crypto debit cards in promoting the popularity of cryptocurrencies in an interview. Baanx launched the Crypto Life Card with partners such as Ledger, 1inch and Mastercard, allowing users to spend cryptocurrencies at 90 million merchants around the world. The card is currently available in 32 countries and plans to expand to the United States and Latin America.
Jones pointed out that as fintech and cryptocurrencies merge, the development of Web3 infrastructure such as account abstraction (such as ERC-4337), which enables users to connect multiple funding sources to a single wallet, has driven the adoption of crypto debit cards. He also emphasized the importance of increased self-custody awareness and account abstraction technology in improving the operation of crypto payments and debit cards.
In addition, Baanx’s Crypto Life Card provides flexible asset storage and consumption options, and provides lending services in multiple countries, allowing users to borrow fiat currencies for consumption without liquidating cryptocurrencies. These innovations make cryptocurrencies more suitable for everyday use and are expected to significantly drive market adoption.
