Bankera started to issue crypto-linked cards for SpectroCoin
Bankera was founded with an aim to provide traditional finance (fiat) rails for businesses working in blockchain and other digital sectors. To do that, we have gained access to SEPA (Single European Payment Area), SWIFT (for cross-border payments) and became principal members of Visa and Mastercard payment networks.
All-in-one fiat solution for crypto businesses
The ability to issue cards makes Bankera a unique provider of fiat rails for cryptocurrency businesses, as we offer most of the required fiat rails in one place. These rails include SEPA Instant, SWIFT and local payments, card and alternative payment methods gateway to process deposits and withdrawals and now card issuing solutions to issue payment cards for end-users. That means that crypto businesses do not have to shop around for different fiat providers for other channels and can focus their energy on developing the crypto side of their business.
While building SpectroCoin, we have learnt that having stable fiat partners is crucial as changing them due to changes in their policies or even worse in case of financial service providers turning out as scam costs not only a lot of legal and technical (development) resources but also has a negative impact on crypto business credibility.
Hence, Bankera being an issuer of SpectroCoin cards, not only brings stability to the SpectroCoin and the whole Bankera ecosystem but also enables SpectroCoin to offer competitive crypto-linked card service. Now, SpectroCoin will offer both plastic and virtual crypto-linked Visa cards and users will be able to have up to 99 virtual cards, which is brilliant for risk management. Having everything in one ecosystem makes it more cost-effective. As a result, SpectroCoin cards will not have any issuing, loading or monthly card fees. Also, it will allow transactions of up to 25,000 EUR and up to 2,500 EUR ATM cash withdrawal limit, so SpectroCoin cards will have one of the highest card limits in the crypto space.
SpectroCoin’s users have already used another Bankera solution: virtual IBANs. It allows a crypto user to have a fiat account in his or her name with a dedicated IBAN (international bank account number). From this IBAN user can send (as well as receive funds) funds anywhere, without needing to withdraw funds first to his or her bank account.
In addition to various Banking-as-a-Service (BaaS) solutions, including virtual IBANs, card issuance, BIN sponsorship or white-label solutions, Bankera is also offering SEPA Instant, SWIFT and local payments in more than 20 currencies for individuals and businesses.
If you want to learn more about card issuing solutions for cryptocurrency businesses, please email us via [email protected].
14 July, 2022