In Canada, Spend Visa® Card Allows Users to Spend Cryptocurrency Like a Debit Card
TORONTO, Sept. 17, 2019 /PRNewswire/ -- Spend, the payment industry's newest all-in-one alternative banking wallet application for users of cryptocurrencies and multiple fiat currencies, announces today that customers in Canada will be receiving their Spend Visa® Cards for immediate use anywhere Visa® cards are accepted. Customers who sign up for the Spend Wallet are able to load their cryptocurrencies into the wallet, which is directly linked to their Spend Visa® Card. Once received, users can utilize the card at over 40 million locations across the globe to spend their cryptocurrencies in real-time. When the user activates the desired asset in their Spend Wallet and swipes their Spend Visa® Card, the asset immediately liquidates into the local fiat tender.
This unique technology and proprietary conversion system is the first of its kind to ever be available in Canada, making spending cryptocurrency as easy as spending debit card funds, with no additional input needed from the user. Unlike similar wallets on the market, users do not need to sell their assets in order to use their funds. Spend Visa® Cards were issued in the US market earlier this year.
"We are thrilled to be the first to market in Canada for such an exciting offering," says Bryan Woods, President, Spend. "Never before has a company created and executed the technology to be able to spend cryptocurrency assets the same way as cash. We are the only company that allows users to spend without first having to sell their assets. All of the hard work happens behind the scenes, giving a seamless user experience."
Users can sign up for one of three cards, each with different daily spend limits - Spend Simple, Spend Preferred or Spend Black. The Spend Simple card is the introductory offering, with a $500 daily limit. The Spend Preferred is the most popular everyday Visa® card, with a $5,000 daily limit. The Spend Black has a daily limit of $10,000 and has an optional metal finish, based on availability. All cards offer a range of rewards up to 6% back, including referral rewards of up to $100.
The Spend Wallet is a multi-currency digital wallet that offers a multitude of services built into the application. Aside from the ability to convert all funds available on the Wallet to fiat-based currencies, the Spend App also allows users to buy/sell virtual currencies with a linked bank account, securely send funds to over 180 countries, and more. Users will soon be able exchange supported fiat currencies as well.
Spend is a FinTech start-up that focuses on creating digital banking and financial solutions for users worldwide. Spend has created a multi-currency digital wallet that enables user access to a wide range of financial service tools, such as the ability to buy, sell, send, receive, exchange, and spend their funds. The Spend Visa® Card in Canada is issued by DirectCash Bank pursuant to a license from Visa International Inc. The "Lend by Spend" Spend Visa® Card in the United States is issued by Sutton Bank pursuant to license by Visa. Visa is a registered trademark of Visa, Inc. All other trademarks and service marks belong to their respective owners. At no point does non-fiat currency flow through the Visa network.
Visit www.spend.com to learn more or download the free mobile app on the Apple App Store or on the Google Play Store.