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KuCoin’s Visa debit card KuCard has added support for
multiple virtual and physical cards starting July 1, 2024, the company
announced today (Friday). This latest offering will enable users to manage
multiple cards and access a cashback program.
Eying Flexibility in Personal Finance
KuCard promises enhanced financial flexibility for
personal use, managing family expenses, or keeping separate cards for different
spending categories. This feature reportedly allows for enhanced budgeting,
improved expense tracking, and easier access to funds. Additionally, users can
access KuCard’s crypto-to-fiat conversion and cashback rewards.
To mark this launch, KuCard has reportedly unveiled a
limited-time offer ending on July 7, whereby users can apply for a second
virtual card for free or a second physical card for EUR 9.99. This promotion is
reportedly available on a first-come, first-served basis.
Launched in November 2023, KuCard is a Visa debit card
that simplifies financial transactions by automatically converting
cryptocurrencies into local currency at the point of sale. The platform
recently introduced cashback programs offering up to 3% on purchases for all
cardholders.
KuCard is compatible with Google Pay and Apple Pay and
can be used anywhere Visa is accepted. Initially available in the European
Economic Area (EEA), the card aims to promote the adoption of blockchain
technology by enabling users to use their cryptocurrency for everyday
purchases, online shopping, and ATM withdrawals.
Other Developments at KuCoin
This latest development comes amid the crypto
exchange’s new tax policy for its Nigerian users. A few days ago, KuCoin
announced that it would impose a 7.5% value-added tax (VAT) starting July 8 on
transaction fees for users with Know Your Customer (KYC) information registered
in Nigeria.
However, the crypto exchange clarified that the new
tax policy only applies to the fee charged per transaction and not the overall
transaction amount. In February, KuCoin collaborated with Revolut on a
new method for purchasing digital assets using euros. This collaboration
enables users to acquire various cryptocurrencies listed on the cryptocurrency
exchange through Revolut Pay.
KuCoin’s partnership with Revolut seeks to simplify
the process of acquiring crypto for European users. Revolut Pay enables users
to convert euros to a variety of supported cryptocurrencies. This partnership
addresses the growing demand for easy access to digital assets, especially
amidst the ongoing surge in the value of Bitcoin.
This article was written by Jared Kirui at www.financemagnates.com.
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