SafePal makes a strategic investment in Swiss bank Fiat24 and collaborates to launch a crypto Visa card and in-app banking services
According to CoinDesk, cryptocurrency hardware wallet provider SafePal announced a strategic investment in Swiss bank Fiat24 on Thursday, opening a banking gateway for users to pay fees with digital assets and transfer funds to other compliant banks.It is reported that the two companies launched a Visa card focused on cryptocurrency and in-app banking services, with the stablecoin USDC pegged to the US dollar as the default deposit currency. Users can exchange their held tokens for USDC through Arbitrum. USDC can be stored as US dollars, euros, and Swiss francs for trading and spending. After completing the KYC and login process in the Fiat24 SafePal mobile wallet application, users can establish a personally owned, fully compliant bank account without paying any account creation or management fees.In addition, after creating a bank account in the SafePal mobile wallet, credentials will be generated in the form of NFTs on the Ethereum-based network Arbitrum, ensuring that all related transactions are securely and transparently recorded on-chain. The crypto Visa card is also connected to third-party payment platforms such as PayPal, Google Pay, Apple Pay, and Samsung Pay. This Visa card will first be launched in parts of Europe, followed by other regions of continental Europe, while the in-app banking gateway will be launched outside the United States and in all non-U.S. sanctioned countries.
