CoinJar Introduces the World’s First Crypto-to-Fiat Mastercard Debit Card

<p>CoinJar, an Australian cryptocurrency trading platform, has launched a crypto-to-fiat Mastercard debit card powered by EML Payments of the United Kingdom.</p> <p>The card, which was announced Thursday (Feb. 17) in a news release, is the first of its kind to be created by a cryptocurrency exchange registered with the United Kingdom's Financial Conduct Authority.</p> <p>"CoinJar Card is the next step in our ambition to make cryptocurrency both accessible and helpful to everyone, every day," CoinJar CEO Asher Tan stated in a statement.</p> <p>The card enables users to make transactions everywhere Mastercard is accepted by automatically converting bitcoins to fiat currency.</p> <p>"With a GBP-native, cryptocurrency-to-fiat Mastercard that can be authorised and used in seconds, CoinJar Card represents a watershed moment for the United Kingdom's crypto ecosystem," the business stated.</p> <p>CoinJar's card, which is available as a digital and physical card with Google Pay integration, supports approximately 50 cryptocurrencies. The card is fee-free and offers a 1% conversion rate that is returned to clients through an in-house rewards programme.</p> <p>CoinJar was founded in 2013 and has facilitated billions of dollars worth of transactions in bitcoin, ethereum, and other cryptocurrencies for over 500,000 customers in Australia and the United Kingdom, according to the announcement.</p> <p>The debut comes on the heels of last year's launch of a CoinJar Mastercard in Australia, which allows users to spend their cryptocurrency like cash. When users select a cryptocurrency to spend, the card immediately converts it to Australian dollars.</p> <p>As PYMNTS recently highlighted, payment processors and retailers have begun to view bitcoin users as more than a fringe minority.</p> <p>According to our research, 16% of Americans have previously purchased or received cryptocurrency, while 29% intend to do so. 18% — or around 46 million people — of that group said they would use the digital tokens to pay for anything fr