WhiteBit has announced a partnership with Visa to launch its crypto debit card. According to the platform, users across the European Union can use its WhiteBit Nova Card to purchase goods and services with cryptocurrencies. In its announcement, WhiteBit mentioned that users stand a chance to earn 10% in cashback on any amount that they spend.
According to WhiteBit CEO Volodymyr Nosov, the card was built for everyday transactions using digital assets. “The WhiteBIT Nova card is a major step in making cryptocurrency a practical choice for everyday transactions, particularly in Europe, a key market for our growth. This card not only enhances accessibility but also offers a more inclusive and rewarding financial future for all users,” he said.
Users can spend all types of crypto with the WhiteBit Nova Card
The exchange also announced that it had gotten approval from the Estonian Financial Supervision and Resolution Authority to make Wellester AS, a registered payment institution, its card issuer. The announcement revealed that users are not required to pay any fees for opening, closing, and activating the debit cards.
There is also no commitment required, with the announcement noting that users can choose a digital or plastic version of the card. However, the plastic version has a different spending limit and ATM access. Users will need to pay €10 to process the plastic cards, with an integration feature with Apple Pay added to the card.
WhiteBit has announced the support of diverse digital assets, including the European Union-approved USDC stablecoin. The card will not support USDT, due to its MiCA-related issues, which has led to companies phasing out its usage. The card will support spending against BTC, ETH, AVAX, DOGE, XRP, ADA, SOL, and NEAR. Other tokens will also be added in due course, with the firm promising to include meme coins.
WhiteBit details its debit card’s cashback feature
In its announcement, WhiteBit mentioned that all users would be eligible for cashback on transactions made using the debit card. Users have the option of taking their cashback in Bitcoin or the native WhiteBit token (WBT). However, the cashback will depend on the types of transactions users carry out.
Groceries will attract 1% cashback, while restaurants, taxi services, and medicine will attract 3% cashback. Pet supplies and subscriptions will attract 5% and 10% cashback respectively. Also, users are allowed to pick up to three categories to increase their rewards. Additional rewards from referrals will enable users to earn a maximum of 50 USDC.
The card, which can be gotten on the WhiteBit platform, is only open to EU users. Eligible users need to pass a verification stage, which will open them to a daily spending limit of €10,000, and a monthly limit of €25,000. WhiteBit was established in Ukraine in 2018, becoming one of the first in the country at the time. The exchange banks on Estonia’s favorable crypto conditions to push its services across Europe. The exchange boasts of about $12 billion in trading volume.
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