According to Cointelegraph, fintech company FV Bank announced the launch of a new debit card and corporate card in partnership with Visa at the Money 20/20 conference in Las Vegas. The card allows US and international customers to access fiat and cryptocurrency balances through the card. Users can top up Visa debit cards with digital assets and fiat currencies, accepting USD, USDC and USDT stablecoins as well as cryptocurrencies in custodial accounts such as Bitcoin, Ether, Polygon, Dogecoin and Polkadot.
FV Bank was founded in 2018 to integrate traditional banking services with digital asset management. The bank is licensed by the Office of the Commissioner of Financial Institutions of Puerto Rico. Debit cards are becoming increasingly popular in integrating digital assets into users' daily lives, with more and more crypto companies adopting solutions from card networks such as Visa and Mastercard.
Avalanche Foundation recently launched a Visa crypto card that supports Wrapped AVAX, BENQI Liquid Staked AVAX, and USDC stablecoins. In September, Mastercard announced a partnership with European crypto payment provider Mercuryo to allow users to use cryptocurrencies in self-hosted wallets within its merchant network.
Visa is also investing in the crypto space. In early October, Visa launched the Visa Tokenized Asset Platform (VTAP), which provides digital asset issuance and management services for institutional investors and central banks. The platform accepts stablecoins and central bank digital currencies in the sandbox phase, and BBVA is one of the participants testing its core functions.
