Austrian crypto company Bitpanda launches a debit card that can be used to make transactions not only in euros, but also in precious metals or cryptocurrencies.
Vienna-based FinTech company Bitpanda is launching its own debit card. The company announced this on its own homepage. Customers will thus be able to use the card to make payments also in cryptocurrencies such as Bitcoin Future or precious metals such as gold. The card is currently only available for citizens within the Eurozone. There are no account management or card issuance fees involved, according to Bitpanda. Payments in euros would also be carried out free of charge. Only for transactions with foreign currency does the crypto company charge a fee.
The payment processing with digital or physical assets is carried out by converting the current rate of the respective asset into euros. For example, if one pays for a coffee with Bitcoin, the Bitpanda debit card converts the cryptocurrency into euros and debits the amount from the account. In the process, the usual trading surcharges are paid to the Viennese FinTech. Premium customers receive a cashback of between 0.5 and 2 percent. In addition, the debit card is to support contactless payments as well as GPay and Samsung Pay.
Bitpanda launches own index for Bitcoin and Co.
Previously, Bitpanda came under the spotlight in October when the company announced plans to map the top 25 cryptocurrencies in its own index. Via the Bitpanda Crypto Index (BCI), crypto users have since been able to build a „diversified cryptocurrency portfolio.“ The portfolio regularly readjusts itself to market changes. Thus, the listed coins and tokens in the BCI can also change on a monthly basis.
This was made possible through a partnership with MV Index Solutions, the index division of leading asset manager VanEck. MVIS obtains the data for this from CryptoCompare, a market observation platform for the crypto space.