SafePal Announces Strategic Investment in Swiss Bank Fiat24 and Launch of In-App Banking Gateway and Virtual Crypto Visa Card 💳💰

Individual users have the ability to create fully-compliant bank accounts that they own and use USDC stablecoin as the designated deposit currency.

SafePal, a crypto wallet, expands into banking with new USDC Visa card.

Crypto hardware wallet provider SafePal has made a groundbreaking move in the world of cryptocurrencies. They have just announced a strategic investment in Swiss bank Fiat24, granting users access to a banking gateway where they can pay for expenses using digital assets and transfer funds to other compliant banks. This exciting development aims to bridge the gap between the crypto world and real-world utilities, bringing us one step closer to a more integrated financial ecosystem.

🔗 SafePal is known for their high-quality hardware wallets that prioritize security and convenience. They have garnered a loyal following of users who appreciate their commitment to protecting their digital assets.

🏦 Fiat24, on the other hand, is a renowned Swiss bank that has extensive experience in the financial industry. Their partnership with SafePal is a clear indication of their recognition of the potential of cryptocurrencies and their willingness to explore innovative solutions.

A Crypto-Focused Visa Card and In-App Banking Services

In collaboration with Fiat24, SafePal has launched a crypto-focused Visa card and in-app banking services. The default deposit currency for these services is the dollar-pegged stablecoin USD Coin (USDC). Users can easily swap their holdings into USDC using Arbitrum, a popular blockchain platform.

The USDC can then be stored in multiple fiat currencies such as USD, EUR, and CHF, allowing users to seamlessly utilize their assets in various transactions and expenses.

🔒 SafePal prioritizes security, and as such, all bank accounts created through their mobile wallet app are fully compliant and individually owned. Users need to complete the KYC (Know Your Customer) and onboarding process with Fiat24, but there are no account creation or management fees. This eliminates the excessive scrutiny and restrictions often associated with traditional banks.

“This will be the first truly crypto-friendly banking experience for retail users,” says Veronica Wong, CEO, and co-founder of SafePal. She believes that inaccessibility is a significant hurdle for crypto users, and by addressing this issue, they can enhance the onboarding and adoption process.

Additionally, all credentials for the bank accounts are minted as NFTs (Non-Fungible Tokens) on Arbitrum, ensuring that all transactions are securely and transparently recorded on the Ethereum-based network.

Worldwide Compatibility and Integration with Third-Party Payment Platforms

SafePal’s crypto Visa cards are not limited to their own ecosystem. They can also be linked to popular payment platforms like Paypal, Google Pay, Apple Pay, and Samsung Pay. This integration allows users to seamlessly connect their crypto assets with mainstream payment systems, making it easier than ever to spend their digital currencies.

Initially, the Visa card will be available in select regions in Europe, with plans for a wider rollout across the continent. On the other hand, the in-app banking gateway will be accessible globally, excluding the United States and countries under U.S. sanctions.

Q&A: Answering Your Burning Questions

Q: Is SafePal a reliable hardware wallet provider?

A: Absolutely! SafePal is highly regarded in the crypto community for their top-notch hardware wallets, which have robust security features and an intuitive user interface. Their strategic investment in Fiat24 demonstrates their commitment to fostering a more inclusive financial infrastructure.

Q: Are there any fees associated with creating and managing a bank account through SafePal’s mobile wallet?

A: No, there are no fees for creating or managing a bank account through SafePal’s mobile wallet. By eliminating account fees, SafePal aims to provide a more accessible and user-friendly banking experience for all.

Q: Can I use SafePal’s crypto Visa card with popular payment platforms like Paypal and Apple Pay?

A: Absolutely! SafePal’s Visa card is compatible with various third-party payment platforms, including Paypal, Google Pay, Apple Pay, and Samsung Pay. This integration allows for seamless and convenient transactions using your digital assets.

The Future of Crypto-Friendly Banking

The announcement of SafePal’s strategic investment in Fiat24 and the launch of their in-app banking gateway and crypto Visa card marks a significant milestone in the evolution of cryptocurrencies. By bridging the gap between crypto assets and traditional banking services, SafePal is leading the charge towards a more integrated and accessible financial ecosystem.

🔮 As we look ahead, it’s clear that the future of banking lies in the hands of innovative companies like SafePal. They are revolutionizing the way we interact with our finances, providing compelling solutions that cater to the needs of crypto enthusiasts and newcomers alike.

With their commitment to security, worldwide compatibility, and integration with popular payment platforms, SafePal is well-positioned to drive mainstream adoption of cryptocurrencies. It’s an exciting time for the industry, and as more individuals embrace digital assets, SafePal’s vision of a crypto-friendly banking experience becomes increasingly relevant.

🌐 For more information about SafePal, visit their official website: SafePal

✨Don’t forget to share this article and spread the excitement of SafePal’s groundbreaking partnership with Fiat24. Let’s bring the power of crypto to the world!✨


📚 References:

  1. SafePal Official Website
  2. Arbitrum
  3. CoinGecko – Cryptocurrency Market Data
  4. Paypal
  5. Google Pay
  6. Apple Pay
  7. Samsung Pay

*Note: Any videos or images in the original content were not included.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Thai Customs will use IBM and Maersk's blockchain platform to streamline cargo tracking processes

According to Coindesk's August 30 report, Thailand is integrating IBM and Maersk's blockchain projects to s...

Blockchain

Nine reasons why the Lightning Network will break out in 2020

Written in front: The original author is Roy Sheinfeld, co-founder and CEO of Lightning Network client Breez. In this...

Blockchain

Brokers enter the blockchain research and compete with the original investment research institutions for pricing power

Text: Mutual Chain Pulse · Black Pearl Source: Interchain Pulse On November 8th, the China Blonde Financial Rese...

Blockchain

Why does the lottery industry in the artificial age urgently need blockchain transformation?

Author: Ha World Technology Source: Chain News Lottery + blockchain is a new direction for the combined development o...

Blockchain

Standard Chartered Ventures Launches Mainland Business: Investment Blockchain Project

According to the IPO, the Standard Chartered Bank announced yesterday that the group's SC Ventures will be launc...