Users will be able to make cash withdrawals and point-of-sale transactions at supported ATMs and locations.
Decentralized finance (DeFi) firm 1inch Network has debuted a new debit card with cryptocurrency to fiat currency bridge functionality. The new card was developed in partnership with MasterCard and Baanx.
According to a blog post from 1inch, the new debit cards will feature full functionality including a physical card featuring account number, expiration date, and the “CVC” security code required to conduct some transactions. It will also have a virtual card feature allowing users to conduct transactions digitally where supported.
Christian Rau, Senior Vice President, Crypto and Fintech Enablement at Mastercard said, in a statement, that the new card served as a necessary bridge between the web3 and web2 worlds:
