Popular crypto wallet imToken has partnered with Swiss blockchain-powered bank Fiat24 to launch a multicurrency Mastercard debit card, allowing users to spend crypto like fiat.
Cryptocurrencies, with their decentralized nature, enable borderless transactions at a fraction of the costs and processing time typically seen in TradFi. This once-niche industry has seen rapid adoption, quickly establishing itself in mainstream finance.
Yet, on/off-ramp systems, tools that connect crypto and fiat currencies, remain a critical bottleneck. The liquidity inefficiency between on/off-chain systems and traditional finance is primarily due to technical barriers, regulatory and compliance obstacles, fragmented liquidity and differences in trust mechanisms, limiting capital efficiency and market development potential. The growing on-chain liquidity cannot seamlessly integrate into daily life. The fund inflows and outflows face compliance risks, complex operations, and slow processing steps (transfer cycles).
Fintech solutions are stepping in to bridge this divide, merging the security of traditional banking with the efficiency of blockchain technology.
Crypto and fiat intertwined
One such solution is Fiat24 —a Switzerland-regulated bank fully built on blockchain. Fiat24 utilizes Ethereum and its smart contracts to facilitate real-time transactions across fiat and crypto. Focusing on tokenized deposits and decentralized finance, the bank functions as a well-built bridge between crypto and everyday life.
To further strengthen the bridge, imToken, a global crypto wallet with over 15 million users, has partnered with Fiat24.
imToken is a secure and user-friendly digital wallet that provides easy access to and usage of over 50 major blockchain networks, including Bitcoin, Ethereum and Tron. It also supports hardware wallets, crypto-to-crypto exchanges and a DApp browser, offering trusted non-custodial wallet services to millions of users.
On top of expanding the bank’s reach, the collaboration will also introduce a multicurrency Mastercard debit card that will enable users to seamlessly spend digital assets like traditional currency.
The new card will allow instant conversion between various fiat currencies and stablecoins like USD and USD Coin (USDC), empowering users to pay with crypto on the spot. Users can add the card to Apple Pay and Google Pay and use it as conveniently as traditional debit cards—no delays or complex transactions that involve manual conversions. This ensures that users can enjoy a streamlined and hassle-free experience when spending their digital assets, whether online or in-store.
Beyond spending, the card is connected to a Swiss IBAN, granting users access to international banking features, including SEPA payments. This integration allows both individuals and businesses to manage fiat and digital assets under one account, benefiting from Fiat24’s cost-effective financial structure and transparent pricing.
The significance to both the industry and users lies in enhancing liquidity by facilitating the bidirectional flow of value between Web2 and Web3 while providing real-life convenience to imToken’s millions of Web3 wallet users. This enables them to enjoy the benefits of self-custody assets and easily use tokens for daily consumption, with the added advantage of holding a Swiss IBAN account for global spending.
💳About imToken Card
— imToken (@imTokenOfficial) January 23, 2025
- Multi-token top-up: USDC, USDT, ETH, WBTC (Arbitrum network)
- Ultra low fees & no annual fees: Enjoy ultra-low gas fees with no annual fee
- Convenient payments: Bind Google Pay, Samsung Pay, WeChat Pay, Alipay.
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Activate now👉:… pic.twitter.com/G1SXA4Did3
Making crypto a practical payment option
imToken leverages Ethereum layer-2 solutions for faster, low-cost transactions without compromising security. Through the partnership with Fiat24, imToken bridges digital and traditional finance, making DeFi accessible to all users, from beginners to experts.
This collaboration extends into Asia, integrating with regional payment systems like WeChat and Alipay. It reflects a broader vision: PayFi gradually embedding itself into everyday financial services worldwide.
As the financial landscape evolves, collaborations like the one between imToken and Fiat24 will serve as a blueprint for a more inclusive and interoperable global economy, seamlessly blending Web3 innovations with established financial systems. Such collaborations signal a shift toward a future where digital assets are as integral to the global economy as traditional fiat currencies.
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