WaveCrest Announces New Debit Card Compatible with ERC20 Tokens

Debit cards have slowly earned their place in the world of cryptocurrency. Quite a few different cards are available already. Most of these tools support Bitcoin, albeit TokenCard plans to do things differently. In fact, the plan is to issue a new debit card which allows users to spend any digital asset they want. This is quite a novel approach, to say the least.

TokenCard and WaveCrest Debit Card

In the world of cryptocurrency debit cards, there are many different products available. However, users can mainly use Bitcoin and no other currencies. Moreover, some cards immediately convert the deposit to fiat currency, which is not something everyone likes. The biggest problem is not being able to spend the cryptocurrency one wants. Especially Ethereum and its ERC20 tokens have seen little love from debit card companies.

That situation will come to change very soon. WaveCrest is partnering with TokenCard to issue a brand new digital asset debit card. More specifically, the goal is to create a card that operates entirely by using smart contracts. This means any ERC20 token on the Ethereum protocol can be used for everyday purchases. This is a tremendous boost for most of these tokens, as their real life use cases are often limited.

It is good to see these tokens get a new use case. Right now, most of these assets are subject to mere speculation. That could end up hurting the projects using these tokens in the future. Moreover, a lot of tokens are not compatible with other blockchain-based projects. Having a way to buy up cheap value tokens during an ICO and using them as a way to fund one’s debit card is quite intriguing. It remains a bit unclear when this product will come to market, though.

In the end, it is good to see more competition in the debit card world. Only relying on Bitcoin is not a good policy in the world of cryptocurrency. More specifics are expected to be unveiled in the future with no specific dates announced.  Rest assured the entire Ethereum ecosystem is quite pleased with this development.

Header image courtesy of Shutterstock

Source: Newsbtc

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