Digital currencies like Bitcoin or Ethereum offer undeniable benefits for individual users and businesses alike. Previously, paying with and receiving cryptocurrencies or other digital currencies was a difficult task due to regulatory limitations and liquidity issues. Modern problems require modern solutions and as a result we came across “Crypto Debit Cards” in early 2017. The first one to gain mainstream attention was an initiative by Centra Tech as they announced to release their own debit card by the name of “Centra Card” around mid 2017. The crypto debit card race has been going on since then.
We have seen a lot of amazing blockchain projects working towards providing a Digital Currency Debit Card in 2020. Amongst them, one of the most interesting blockchain projects is Ternio. It has built the middleware for cryptocurrencies to be utilized and spent as cryptocurrencies instead of fiat. To explain this better, let’s look into this company’s details. Ternio is the only such company that issues “bank grade crypto debit cards” that hold cryptos in the form of cryptos and not fiat money. They aim at empowering companies to be their own banks through this platform. The cryptocurrencies are held within the card until the point of sales. This ensures that the card holds its integrity as a “crypto debit card” more than just a gift card.
Ternio recently received even more distinction by becoming an Enablement Partner as part of VISA’s Fast Track initiative. Ternio is the first cryptocurrency focused enablement partner in the VISA program. Ternio will now help other FinTech and crypto companies to connect with VISA products so that others can launch similar crypto debit cards on the VISA network.. Ternio’s BlockCard platform has quickly become a new standard for digital currency debit cards, as it enables other companies and foundations in the cryptosphere to quickly gain access to more than 60 million merchants around the world.
An example is Ternio’s partnership with the Litecoin Foundation who issued the Litecoin Card through Ternio’s “BlockCard Platform”. Ternio teamed up with the Litecoin Foundation to present them with a fully functional VISA enabled “Litecoin Card”. This card is a true crypto debit card that enables card holders to stay in LTC until they decide to spend.. Litecoin cards allow purchases of goods and services from anywhere VISA is accepted. Litecoin Card holders can easily transfer funds or withdraw cash from any ATM. The Litecoin Card will also give customers access to free bank accounts for buying or selling LTC via Ternio’s platform.
Ternio has opened up new possibilities for the crypto and FinTech businesses around the world by becoming the “Xerox” of the 2020s. Back in the early 90s when Xerox was launched, people would not ask for a photocopy of a document but instead say “Xerox it”. Very similar to this, people are now saying “BlockCard” when referring to crypto debit cards instead of asking for making a payment any other way for cryptos. This is such a big achievement for the Ternio team as they have become the ideal digital currency debit card platform.
Ternio’s BlockCard enables users to:
● Fund their account with their card’s currency or any other 12 supported cryptocurrencies.
● Make payments and purchases across the world anywhere VISA is accepted.
● Transfer funds or withdraw cash simply from any ATM.
● Attain a virtual card along with the physical card.
● Keep funds as cryptos instead of fiat currency in the card until the time of purchase.
● Sync with Apple, Samsung, and Google pay
● Free bank account for buying and selling cryptocurrencies
This platform acts as the interoperability layer between the existing legacy payment system with blockchain based digital currencies. Ternio is stepping up the game for the ecosystem of digital asset owners and consumers by bringing in the BlockCard enabled use-cases making cryptos more liquid than ever.
Any blockchain based digital currency can now become their own bank by simply owning a BlockCard for their specific digital currency. Ternio is providing completely white-labeled payment cards that allows users to spend their cryptos in real time. The card utilizes users’ owned digital assets as a means of making real world payments. Blockchain based digital currency companies can now get a fully co-branded interface and card design for a unique look and feel along with Turnkey Compliance. Ternio also provides co-branded dashboards and account management systems to ensure that the company runs seamlessly.
Ternio has made cryptocurrency conversions so simple and instant that they are converted on the run time at the time of each transaction. Ternio does not intend at making a specific crypto liquid, it aims at unlocking the potential that all cryptos hold by converting them seamlessly into spendable assets for all physical or digital point of sales. Crypto debit cards are an important financial tool for unlocking blockchain’s mainstream adoption and Ternio has set the standards for it.