The new Spanish company of FinTech 2gether has announced a new Visa debit card that allows residents of 19 countries of the European Union (EU) to pay for goods / services using fiat (euros) or cryptography (XRP, BTC, ETH, BTC , BCH, EOS, XLM). and LTC) anywhere in the euro zone (ie, the 19 EU countries that use the euro as the official currency) that accept a Visa card.
The Madrid company 2gether was founded in 2016 and currently has around 30 people
2gether says that its prepaid Visa debit card “allows consumers to spend cryptography as easily as if they were euros anywhere, instantly without charges.” Here are some examples:
“Whether buying at their favorite store or inviting a friend to dinner, users simply slide their 2gether card and seamlessly integrate the cryptocurrency into their customers’ daily lives, essentially paying with cryptography without even realizing it. the center? Slide your 2gether card and your crypto covers everything perfectly. Is this a brunch for the food? Pay using your crypto with a single hit Pay the parking lot in the theater, buy tickets for the prime minister even butter for popcorn, all with crypto As easy as swiping a Visa card. ”
2gether customers can:
“Pay in Euros or instantly convert 1 of 7 cryptocurrencies to pay with the Visa card: ETH, BTC, XPR, BCH, EOS, XLM and LTC”
“Maintain and manage the balances in euros and cryptographies in the same application”
“Buy and sell cryptography in two clicks without surcharges to change prices”
2gether has already had a “beta release” in Spain, but soon plans to launch also in the other 18 countries of eureozone (Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg , Malta, the Netherlands, Portugal, Slovakia and Slovenia); however, we do not currently have an exact release date for these 18 countries.
Anyone residing in one of the 19 countries of the eurozone can download the 2gether mobile application (which is available for iOS and Android), go through the Know Your Customer (KYC) process and then join the waiting list.
One thing that is important to understand is that 2gether is not a bank, and describes itself as “a financial platform that offers financial products and services manufactured and / or offered by third parties”. At this moment, their “money management services” are managed by “Pecunia Cards E.D.E., who have an Electronic Money License authorized by the Bank of Spain”.
Pecunia Cards E.D.E is an electronic money institution. Here is 2gether explaining how this is different from a bank and what this means for 2gether clients:
“Your money is managed by Pecunia Card EDE, an electronic money institution regulated by directive 2009/110 of the European Commission, and it is guarded by licensed banks with which Pecunia has commercial agreements, unlike banks, institutions of electronic money can not lend or invest. “Customer deposits and must be available at any time. Only the client can order exits or inflows of his capital “.
Although the 2gether service is currently only for residents of the 19 countries of the eurozone, it plans to expand to the rest of the world:
“At this moment, 2gether is available to the residents of the 19 European countries that operate using the euro as their main currency, our goal is to become a global platform and, therefore, we are working on the expansion of 2gether to the rest of the world. world as soon as possible. ”
Ramón Ferraz, the CEO of 2gether, said this:
“2gether is developing the bank of the future, where consumers can take ownership and full control of the services they use and go beyond the exclusive interaction with euros and dollars. To date, there has been no tangible consumer-owned application that connects crypto and the mainstream market. “We are proud to be one of the first companies in the cryptography space to launch a chip sale with a finished product”.