According to Odaily, Baanx's Chief Business Officer, Simon Jones, has highlighted the crucial role of crypto debit cards in promoting the widespread use of cryptocurrencies. In collaboration with partners such as Ledger, 1inch, and Mastercard, Baanx has launched the Crypto Life Card. This card allows users to spend cryptocurrencies at over 90 million merchants worldwide. Currently, the card is available in 32 countries, with plans to expand to the United States and Latin America.
Jones pointed out that the integration of fintech and cryptocurrencies, along with the development of Web3 infrastructure like account abstraction (such as ERC-4337), has facilitated the adoption of crypto debit cards. This technology enables users to link multiple sources of funds to a single wallet. He also emphasized the growing awareness of self-custody and the importance of account abstraction technology in improving crypto payments and debit card operations.
Furthermore, Baanx's Crypto Life Card offers flexible asset storage and spending options. It also provides lending services in multiple countries, allowing users to borrow fiat currency for spending without having to liquidate their cryptocurrencies. These innovations make cryptocurrencies more suitable for everyday use and are expected to significantly drive market adoption.