NewsletterJust-In: Gnosis Unveils Visa-Certified Debit Card at Ethereum Conference
Gnosis, a leading blockchain company, has unveiled Gnosis Pay and Gnosis Card, marking the world’s first decentralized payment network and self-custodial debit card. The official announcement was made at The Ethereum Community Conference (EthCC), the largest annual European Ethereum04-days event.
Gnosis Pay and Gnosis Debit Card
Ethereum’s sidechain Gnosis, introduces Gnosis Pay and Gnosis Card, pioneering the integration of decentralized payment networks with traditional processors and a Visa-certified consumer debit card connected to an on-chain self-custodial wallet.
It will initially be available in EU and EEA countries, along with the UK. Expansion plans for Q4 include the United States, Brazil, Mexico, Singapore, and Hong Kong. This innovative offering differentiates itself from other Web3 payment cards as it is not prepaid.
These innovative offerings enable users to pay for online purchases using stablecoins and Visa’s payment system. Gnosis Pay operates as a layer 2 solution on the chain, ensuring faster and more cost-effective transactions, stemming from a collaboration between Gnosis and payment processor SaltPay.
Also Read: Australia’s Big Four Banks Block Payments To Crypto Exchanges
Revolutionizing Crypto Payments
Upon launch, users will have the ability to spend EURe, a stablecoin pegged to the Euro, on the Gnosis Card. The team behind Gnosis Pay is actively working on integrating MakerDAO’s decentralized stablecoin, DAI, for further payment options.
With Gnosis Pay, you can spend your digital assets directly from you wallet wherever Visa is accepted.
Initially, Gnosis Pay will provide a physical card and web app, with a mobile app in the pipeline. Signing up for the service incurs a 30 EURe fee, marking the beginning of a new era in crypto payments.
Following its spin-out as a separate business in July, Gnosis maintained strong ties with Safe, evident in the incorporation of Safe wallets in their recent product offerings.
Also Read: Binance Launches New Feature Responding To User Feedback
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Michael Saylor Teases New Bitcoin Buy As ‘Orange Dots’ Return
- December Recovery Ahead? Coinbase Outlines Why Crypto Market May Rebound
- Peter Brandt Hints at Further Downside for Bitcoin After Brief Rebound
- $1.3T BPCE To Roll Out Bitcoin, Ethereum and Solana Trading For Clients
- Why is the LUNC Price Up 70% Despite the Crypto Market’s Decline?
- Ethereum Price Holds $3,000 as Bitmine Scoops Up $199M in ETH; What Next?
- Solana Price Outlook Strengthens as Spot ETFs See $15.68M in Fresh Inflows
- Dogecoin Price Gears Up for a $0.20 Breakout as Inverse H&S Takes Shape
- Bitcoin Price Forecast as BlackRock Sends $125M in BTC to Coinbase — Is a Crash Inevitable?
- XRP Price Prediction As Spot ETF Inflows Near $1 Billion: What’s Next?
- Solana Price Outlook: Reversal at Key Support Could Lead to $150 Target
