Eidoo, the Swiss DeFi startup, has partnered with Contis to launch a new Visa crypto debit card. 

The new Eidoo card has been approved by Visa and will be accepted by 40 million merchants worldwide. It uses regulated stablecoins to enable crypto-to-fiat conversions, supporting major currencies including the euro (EUR) and British pound (GBP). 

Contis, a principal member of Visa Europe, acts as the issuer of the new card, while the Ethereum-based stablecoins used are issued by UK-based financial services firm Moneyfold. According to Eidoo, the new card represents the first time the backend of a cryptocurrency card is done via stablecoins and DEXes. 

People can pre-order an Eidoo Card by staking or burning Eidoos native EDO token (minimum burn 100 EDO, or minimum stake 25,000). There are three levels of account available: BASIC, VIP, and BLACK. 

The company says nearly 3,000 cards have already been pre-ordered, with more than 3m EDO tokens staked.

AYO.NEWS says:

Cards like this really do make cryptocurrencies as convenient as cash, and will be a major driver of mainstream adoption. At the end of March we reported that Malta-based crypto company Binance had launched a Visa debit card, with initial roll out in Malaysia. Meanwhile, US-based Coinbase has been steadily adding more countries and cryptocurrencies to its Visa debit card program.  

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