Nexo has officially launched its cryptocurrency credit card in collaboration with Mastercard after announcing the project back in 2019.
Major cryptocurrency loan company Nexo has officially launched a crypto-backed Mastercard card enabling users to pay for services with cryptocurrencies like Bitcoin (BTC) without selling their crypto.Nexo has partnered with Mastercard and the peer-to-peer payment startup DiPocket to launch the Nexo Card, a crypto card allowing cardholders to use their crypto as collateral rather than selling it, the firm announced to Cointelegraph on Wednesday.The card is linked to a Nexo-provided, crypto-backed credit line allowing to use of multiple assets as collateral, including but not limited to Bitcoin, Ether (ETH) and the Tether (USDT) stablecoin."The Nexo Card functions through Nexo’s crypto-backed credit lines which means that funds for your purchases come from your available credit line while your digital asset portfolio remains intact," a spokesperson for Nexo told Cointelegraph.