According to Shenzhen TechFlow, SafePal announced a strategic investment in Swiss bank Fiat24 and launched an in-app banking gateway and linked virtual encrypted Visa card. The bank gateway and Visa card will be launched first in selected regions of Europe, before expanding to the entire continent and other countries (excluding the United States and countries subject to US sanctions).
Users will be able to use cryptocurrencies to pay for daily expenses and make seamless transfers to other bank accounts in a compliant manner. The virtual Visa card supports third-party payment platforms such as Paypal, Google Pay, Apple Pay and Samsung Pay, enabling smooth and seamless payments.
After creating a bank account in the SafePal mobile wallet, the credentials will be minted as NFTs on Arbitrum, an Ethereum layer 2 solution, and all related transactions will be broadcast on-chain.
