We think you'll love to hear about this one.
It's no news that a lot of us have digital assets and more people are getting into it.
Estimates show that there are more than 300 million cryptocurrency users across the world.
Digital assets comprise a meaningful quota of many saver's wealth. So, why shouldn't it be readily available to be spent by their owners, just like traditional currency?
While there are a host of innovative developments closing this gap between the crypto- verse and legacy finance, cryptocurrency-backed debit cards are one of the most interesting.
Get this, it's now possible to walk into any of your favourite stores and make payments with a debit card that is linked straight to your crypto wallet.
How cool would it be to spend your cryptocurrencies anywhere you want to? In dollars?! With a debit card?! No Limits ?! Sign me up!
We found a pretty fascinating startup making this possible in real time.
Juice is an American incorporated company focusing on powering trade across the world.
By building partner relationships with crypto exchanges worldwide, Juice empowers these exchanges to provide their users with physical and virtual debit MasterCards. With its advanced API technology, Juice lends a hand to all crypto exchanges to help their customers readily spend their digital assets. These crypto-funded dollar denominated debit MasterCards are customisable to each exchange's brand styles.
We spoke to a Senior Engineer at this stealth startup, who says their APIs are currently being integrated by a number of global crypto exchanges.
We are trying to make complex technology feel useful daily.
So be on the lookout, you just might be getting your very own crypto debit card soon! Daily limit, what? That wouldn't even matter anymore!
Juice is set to be a juggernaut, and its soon-to-be announced crypto exchange partners is positioning this startup as an engine that will quickly take cryptocurrency mainstream in many countries of the world.
Jim saves his digital assets in a hypothetical crypto exchange called HypoSafe, which is plugged into the advanced API technology that Juice offers.
Jim receives his HypoSafe branded MasterCard debit card that is linked to his HypoSafe wallet.
Jim walks into a cake shop that, like most, accepts debit cards.
Because this debit card works just like any debit card you get from your local bank, Jim can decide to use his regular debit card or the brand new crypto-based debit card.
Jim tops up his card with any cryptocurrency HypoSafe lets him use. In this case, let's say Ripple.
The cashier swipes the card and within seconds, the processing company sends an authorization request to juice to authorize the transaction, takes the amount needed for the cake from the card, and delivers it directly into the cake shop's account. HypoSafe then deducts the crypto equivalent of the cake price from Jim's crypto wallet.
The entire model is multi-tiered, wherein partnered exchanges feed digital stable coin (USDC) into a single pool domiciled with Juice, enabling real-time transactions settlement for their users.
Using the crypto debit cards to make purchases faster and more conveniently, without a bank account and exchange rate expenses.
In addition to being able to spend your digital assets whenever and wherever you want, Juice is offering you a chance to earn rewards by making one simple introduction to any crypto exchange in the world that you think can adopt their offering. When said company is successfully onboarded, you get commissions on the card transactions of all their users when they use their debit cards. Yes, every single card transaction of every single user. Yes, for life! As long as the company is integrated with Juice, you continuously earn when customers shop with their debit cards.
Think about Juice, as the Bank. We found out, that there are two undisclosed 😉 settling Banks that make this technology possible for Juice. Between their ecosystem, they provide BIN sponsorship, transaction processing, monitoring, and settlement all via one API.
Fingers crossed that it's all successful, you heard about Juice here first! We're here for all the innovation they are likely to bring, and with it, hopefully more opportunities to
earn for life.