Blockchain payments provider BitPay has launched a Mastercard prepaid card for crypto users in the United States. The BitPay Card enables customers to convert their cryptocurrency into fiat, which can then be loaded onto the card and spent anywhere Mastercard debit is accepted. Card holders can also withdraw U.S. dollars from ATMs and make online purchases.
BitPay CEO Stephen Pair said that the BitPay Card is specifically targeted at crypto holders, serving as a tool to provide a convenient way to access spending power. Prepaid cards are hoping to tap into a whole new market, as recent findings show that 36.5 million people in the U.S. own some sort of cryptocurrency. BitPay’s statistics page also highlights that an average of 98,000 Bitcoin transactions were processed per month during this year.