Fiat24, a fully Swiss-licensed and regulated (FINMA) fintech company, has already gained awareness, being the first core banking system built entirely on the blockchain – specifically on Ethereum’s Layer 2, Arbitrum.
Now, they are ready to take global crypto payments to the next level with the launch of their highly anticipated Visa Debit Card.
And what makes it so unique?
Running on Arbitrum and powered by smart contracts means that every transaction is immediately booked on Arbitrum and visible on Arbiscan, with the gas fee being paid by Fiat24.
But it gets even more special.
Top-up your Visa card in MetaMask
As the service is run through their dApp, users can enjoy the flexibility of connecting via their preferred crypto wallet (e.g. MetaMask) and use the cryptocurrencies they have in there to top-up their Fiat24 accounts. With a loaded cash account, anyone in the ecosystem can spend their crypto simply, wherever Visa is accepted, both online and for real-world payments.
Fiat24 is Web3-ready and well-suited to crypto natives, as they designate an NFT as the access key to their services, moving with the trend into digital identities and away from traditional logins and passwords.
Connected to a user’s crypto wallet, Fiat24 is able to offer their clients the safety of their wallet with the added advantage of being able to restore any Fiat24 account – essentially, bringing the best of both the CeFi and DeFi worlds.
As of July 1st, 2023, Fiat24 onboarded clients have access to a Visa Debit Card available directly inside their dashboards. It can be used for online payments, such as PayPal and Amazon, as well as be connected with a mobile phone’s GooglePay and SamsungPay. ApplePay will be available within July 2023.
Arbitrum – a solution for gas fees and speed
Nico Buechel, the CTO of Fiat24, says “two years ago, we were faced with the challenge of finding an alternative to Ethereum due to the high gas fees and low TPS. At the time, we were torn, as there was a surge in the emergence of L2s, and we had to be sure that we were choosing the right one. We were instantly attracted to Arbitrum for many reasons, and haven’t looked back since.”
It might be the first attempt at using a public blockchain for regulated financial services. As a next step, Fiat24 is allocating a Swiss IBAN to each NFT, meaning that the opportunity to open a Swiss account will be readily available directly in your crypto wallet.
Get started and learn more at www.fiat24.com
