The Crypterium card is going to be the first one to be launched by Crypterium. Crypterium is a startup based in Estonia offers instant payments with cryptocurency for everyday purchases. Before that credit cards (introduced by Coinbase) were used in different countries for exchange of crypto. But the exchange then confirmed that it would spread its using area to additional six European countries. Accessing digital currencies are easy with crypto cards as it is fastest. But those cards are not accessible to all countries which is taken as its limitation. Though the card is global so exchanging from anywhere in the world is possible in only 3 business days. Crypterium card can be shipped to your door doesn’t matter where you are.
5,000 Estonian clients preordered it just to confirm it as a payment option is tested. The card has also been tested by its developers like they purchased goods and services with the card. And thus it has been confirmed as global. The interest is higher in low banking developed countries as mentioned South America and Southeast Asia but fact is that a lot of request is coming from U.S. more than 500,000 users in those regions are using Crypterium app as the card is linked to the app. Many things are required if you want to have the card that includes national ID card, passport and proof of residence in the form of utility bill. But one its benefit is that the card doesn’t charge any transaction fee.
All the formalities of using the card is according to the eye of law of Estonia and U.K. THE Crypterium card is a UnionPay prepaid debit card can be utilized whenever UnionPay is accepted. Nearly 23 million merchants are using this network in 175 countries. UnionPay is opted because it enables global coverage. The network can be China or non China gives them flexibility to serve all countries left behind by the rest of the cards in the market. Next to the establishment of mobile payment service which is actually based on QR scanning in Eastern Europe the company made more than 300 partnerships with e-commerce retail services.
The company wants to make crypto as liquid as cash and to do so it raised two projects series A and the next one is series B where in series A it made a funding of $1 million and $51 million in series B. Crypterium is mainly focusing on developed countries but not in undeveloped countries.