The 1inch Card will allow users to use their crypto for online and in-person purchases, and make cash withdrawals at supported ATMs through seamless crypto to fiat conversion.
1inch constantly strives to deliver the most efficient and user-friendly products. To make the user journey even more seamless, we are excited to unveil a new Web3 debit card, issued by Baanx’s Crypto Life and powered exclusively by the Mastercard network. Through instant conversion from crypto to fiat currency, the 1inch Card will allow users to spend their crypto to pay for online and in-person purchases worldwide wherever Mastercard is accepted.
Powered by Crypto Life, the 1inch Card will come in the form of a physical card, as well as a virtual card, providing users with all benefits of a standard debit card.
“This is another major step towards onboarding mass users to DeFi,” said Sergej Kunz, 1inch co-founder. “With the 1inch Card, the user can benefit from the advantages of both DeFi and traditional finance.”
“We’ve long championed solutions that not only meet customers where they are, but also deliver ubiquity, peace of mind and the highest levels of security,” said Christian Rau, Senior Vice President, Crypto and Fintech Enablement at Mastercard. “Leveraging Mastercard’s leading technology and standards, the 1inch Card is connecting Web2 and Web3 worlds in an innovative way.”
“1inch have long been a pioneer in the DEX space with their market leading exchange aggregator; having created an exceptional brand and reputation. Baanx is pleased to integrate the Crypto Life Card into the 1inch user ecosystem in partnership with Mastercard and looks forward to a successful partnership,” said Simon Jones, CCO, Baanx and Crypto Life.
Each card will have a number, validity date and CVC, enabling users to pay for goods and services with fiat currency, following immediate, fast, and secure conversion from crypto when a payment is made. All it needs is crypto in the 1inch Wallet.
The card can also be used to make convenient one-touch payments for everyday essentials at in-person stores that support contactless payments. And, cardholders can withdraw cash with a physical or digital 1inch Card at any ATM that accepts Mastercard around the world.
The 1inch Card powered by Crypto Life and Mastercard will initially be available to users based in the UK and EEA. Join the 1inch Card waiting list at: 1inch.io/card.
About 1inch
The 1inch Network unites decentralized protocols, empowering users to perform efficient, user-friendly and secure operations in the DeFi space. The 1inch dApp offers access to hundreds of liquidity sources across multiple chains, and includes the 1inch Aggregation Protocol, the 1inch Liquidity Protocol, the 1inch Limit Order Protocol and the 1inch Wallet – a fast and secure mobile application for storing, receiving, sending and swapping crypto assets.
About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
About Crypto Life Card
Our motivation is to create a new paradigm in financial services and the way people use their money and prosper. We are tireless to always better our products and services to create a seamless customer experience that empowers people to achieve their life goals, wherever they may live. Crypto Life Card is owned by Baanx Group Limited.
Contact for 1inch
Pavel Kruglov, PR and Communications
Contact for Mastercard
Biz Cozine, Director, Communications
Contact for Crypto Life Card
Tanya Dias, CMO