Edge Mastercard to Allow Payment With Cryptos

Self-custody exchange Edge on Wednesday announced the launch of Edge Mastercard, which enables crypto holders to spend with digital currencies like Bitcoin BTC/USD , Bitcoin Cash BCH/USD , Dogecoin DOGE/USD, Litecoin LTC/USD, and Dash DASH/USD from its App.

Edge users sell their Bitcoin to the card when adding funds in the app, while merchants receive funds in USD. 

Users register their cards inside the Edge app to start spending, without having to add personal information or pay any fees. The card, powered by Ionia, a fintech and savings platform, connects with mobile pay services Apple Pay, Samsung Pay, or Google Pay.

Card allows initial spend of $1000 a day

In the initial roll-out, the card will enable spending at more than 10 million merchants in the United States and users can spend the equivalent of up to $1,000 per day.

"Without compromising any personal info, and without the usual fees or delays to top up their card, the Edge Mastercard is a true breakthrough for using crypto for day-to-day payments,” said Paul Puey, co-founder of Edge. 

“Bitcoin, BitcoinCash, Dash, Doge, and Litecoin users will finally be able to spend their currencies at Mastercard MA accepting merchants in the US,” he added.

Edge uses official spot exchange rates provided by platforms such as Coinmarketcap, a price-tracking website for digital assets, with no margin taken on exchange rates.

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyFintechMarketscontributors
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!