PayProtocol, the company behind PayCoin, has revealed plans to launch its own Mastercard-powered debit card on April 30th.
According to an April 14 announcement posted on the company’s medium page, the card allows users to close out the crypto and spend time with MasterCard Merchant all over the world. This card was created in collaboration with Swiss Neobank Sr Saphirstein AG and supports PayCoin tokens PCI, Ethereum (ETH) and USD Coin (USDC).
With a monthly top-up limit of 1,000 Swiss Francs, Paycoin MasterCard can be used for online and offline payments and is compatible with Apple Pay and Google Pay. The card’s independent structure is one of its important functions. It gives users complete control over their assets while providing access to MasterCard’s global payments network.
The card was originally offered in the EU and European Free Trade Association regions, and plans to expand to additional countries and support more cryptocurrencies in the future. PayProtocol also noted that PCI has been exposed to UNISWAP (UNI) via the Arbitrum (ARB) bridge, which has led to increased liquidity.
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Currently more firmly established in the decentralized finance ecosystem, PCI functions as a real-time payment asset in PayProtocol’s broader payment model with low rates and high speed transactions.
Paycoin is already widely used in Korea, with over 10,000 facilities accepting PCI as payments, including 7-Eleven, Domino’s Pizza and KFC. With the new MasterCard, the team is now looking to enhance Paycoin’s global presence, which began in Europe.
According to Coingecko data, Paycoin prices rose 5.7% since the announcement, increasing daily trading volume to $900 million to $7.8 million. Its market capitalization is $70 million and the PCI is currently ranked 512th. The launch of MasterCard may be a turning point in adoption, despite still being over 98% below its peak.
read more: Solana-based Zebec Network introduces Crypto debit cards with MasterCard
