The card aims to 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
Self-custody exchange Edge has launched Edge Mastercard to enable cryptocurrency holders’ spend with digital currencies such as bitcoin, bitcoin cash, dogecoin , litecoin, and dash from its application. Initially, the card aims to 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.
Edge Mastercard aims to use crypto for day-to-day payments, without compromising any personal information and usual fees or delays to top up users’ cards. “Bitcoin, BitcoinCash, Dash, Doge and Litecoin users will be able to spend their currencies at Mastercard accepting merchants in the US,” Paul Puey, co-founder, Edge, said.
According to an official statement, Edge users sell their bitcoin to the card when adding funds in applications, while merchants receive funds in United States Dollar (USD). Users can register their cards inside the Edge application to start spending, without having to add personal information or pay any fees.
Edge claims that the card is supported by fintech and savings platform Ionia, and connects with mobile pay services such as Apple Pay, Samsung Pay, and Google Pay. The exchange also claims that it uses spot exchange rates provided by platforms such as CoinMarketCap, a price-tracking website for digital assets, with no margin taken on exchange rates.