Fintech company FV Bank has launched new debit and corporate cards in partnership with Visa, specifically created to integrate with its digital asset custody services.
According to an announcement during the Money 20/20 conference in Las Vegas, Nevada, the cards allow United States and international customers to access both fiat and cryptocurrency balances through the cards.
Users can fund their Visa debit cards with both digital assets and fiat money. The card accepts deposits in US dollars, the US Dollar Coin (USDC) and Tether (USDT) stablecoins, and cryptocurrencies held in custody accounts, such as Bitcoin (BTC), Ether (ETH), Polygon (POL), Dogecoin (DOGE), and Polkadot (DOT).
FV Bank was founded in 2018 targeting the integration of traditional banking services with digital asset management. The bank is licensed by Puerto Rico’s Office of the Commissioner of Financial Institutions.
Debit cards are becoming more popular as ways to integrate digital assets into users’ everyday lives, with more crypto firms incorporating solutions from Visa and other card networks, such as Mastercard.
The Avalanche Foundation — the entity behind the Avalanche blockchain — has recently introduced a Visa crypto card with support for tokens such as Wrapped AVAX (wAVAX), BENQI Liquid Staked AVAX (sAVAX) and the USDC stablecoin.
Related: VTAP Explained: What is Visa Tokenized Asset Platform?
In September, Mastercard announced a similar move through a partnership with the European crypto payments provider Mercuryo, allowing users to spend crypto stored in self-custody wallets within its network of merchants.
The crypto space has also been a focus of Visa's investments. In early October, the financial services giant introduced its Visa Tokenized Asset Platform (VTAP), a platform for issuing and managing digital assets.
The platform will offer services to institutional investors and central banks, offering end-to-end infrastructure for minting, transferring and settling digital assets across public and permissioned blockchains. In the sandbox phase, the platform accepts stablecoins and central bank digital currencies (CBDCs), with BBVA among the participants testing its core functionality.
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