Lama joins Gate.io, Crypto.com, and Bybit among other cryptocurrency trading platforms in offering crypto debit cards to customers.
Crypto exchange Lama has launched its own branded cards from Visa Inc (NYSE:V). According to a press release shared with Coinspeaker, these cards can enable the rapid conversion of cryptocurrency into fiat, allowing users to spend their digital assets and euros everywhere Visa is accepted.
Lama offers both physical and virtual Visa cards to cater to the diverse preferences of its user base. The physical card can be used for personal transactions, just like any traditional credit or debit card. On the other hand, the virtual card can be used for online digital purchases and transactions.
Along with this feature, the cards come with a host of exclusive benefits, including 2% Bitcoin (BTC) cash back on all purchases for users who are on the Gold plan. This distinct feature differentiates Llama from traditional bank rewards programs by allowing customers to earn Bitcoin while making their daily purchases.
To meet the diverse needs of its users, Lama has developed three Visa card plans that offer various features and benefits. These plans aim to provide flexibility and choices to users based on their preferences and usage patterns.
The entry level plan offered by Lama is a Bronze Pass. It is a free plan that offers users one virtual card to spend online. Although it has a limited feature set, it is a viable solution for consumers who primarily transact online and need a basic card to aid their digital spending.
The second is the Silver package, which is designed for users who need additional card options and enhanced benefits. For a monthly fee of €9.99, users can enjoy up to three virtual cards, one physical card and 1% BTC bonus on all purchases.
Finally, the Gold plan is a premium offering, providing users with a comprehensive set of features and benefits. At €19.99 per month, this plan includes up to five virtual cards, one physical card, and 2% BTC cashback.
Lama brand
Lama, as an EU-registered crypto exchange, is dedicated to bridging the gap between crypto and mainstream financial services. The platform attempts to create a seamless and secure experience for users by working with industry-leading service providers and following high compliance standards.
One of the key aspects that sets Lama apart is its partnership with Ledger, a popular provider of institutional-level custodial services. By leveraging Ledger technology, Lama ensures that customers’ funds are stored in a secure and robust manner.
Furthermore, Lama has achieved Payment Card Industry Data Security Standards (PCI DSS) compliance certification. This certification demonstrates Lama’s commitment to upholding the highest standards of security in handling cardholder data.
Lama joins other crypto companies to issue payment cards
Notably, Lama joins Gate.io, Crypto.com, and Bybit among other cryptocurrency trading platforms in offering crypto debit cards to customers. According to a previous report, Gate.io’s parent company has teamed up with online payment facilitator Visa to launch a crypto card for European users.
Meanwhile, Crypto.com has been running a debit card system for years, while Bybit recently teamed up with Mastercard Inc (NYSE:MA) on a similar product. Remarkably, Visa’s crypto card program includes collaboration with 50 of the largest crypto platforms to develop Visa-branded debit cards. These aim to make it easier to spend digital currency with the 70 million merchants in the world.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and innovations to drive public acceptance and global integration of the emerging technology. His desires to educate people about cryptocurrencies have inspired his contributions to popular blockchain-based media and websites. Benjamin Godfrey is a fan of sports and farming.