1inch Network, a decentralized exchange (DEX) aggregator, has introduced a crypto debit card powered by Mastercard with developer Baanx, Coindesk reports.
In the statement, it was stated that 1inch Card will allow users to use their cryptocurrencies for online and in-person purchases and withdraw cash from supported ATMs through seamless conversion from cryptocurrency to fiat currency.
1inch co-founder Sergej Kunz stated the following in his statement:
“We have a lot of people using 1inch for trades, limit orders and also as a developer portal.
But we also wanted to include the man holding crypto on the street. “That's why we decided to launch the 1Inch card because it gives us an additional entry point for new people: those who are more familiar with the traditional world, those who use debit cards and those who pay with crypto assets.”
In the statement, it was stated that 1inch Card can be used as a virtual card as well as a physical card and will provide users with all the advantages of a standard bank card.
After the news, 1INCH price started to rise.
*This is not investment advice.
