Lama joins Gate.io, Crypto.com and Bybit among other crypto trading platforms to offer crypto debit cards to customers.
Crypto Exchange Lama has launched its own branded cards from Visa Inc (NYSE: V). According to a press release shared with Coinspeaker, these cards can enable rapid conversion of cryptocurrencies into fiat currencies, allowing users to spend their digital assets and euros anywhere Visa is accepted.
Lama offers both physical and virtual Visa cards to suit the diverse preferences of its user base. The physical card can be used for in-person transactions, just like any conventional debit or credit card. On the other hand, the virtual card can be used for online purchases and digital transactions.
Along with this feature, the cards come with a range of exclusive benefits, including a tempting 2% Bitcoin (BTC) cashback on all purchases for Gold plan subscribed users. This distinct feature sets Lama apart from traditional bank rewards programs by allowing customers to earn Bitcoin while making everyday purchases.
To meet the diverse needs of its users, Lama has developed three Visa card plans that offer varying features and benefits. These plans aim to provide flexibility and options to users based on their preferences and usage patterns.
The entry-level plan offered by Lama is a Bronze card. This is a free plan that provides users with a single virtual card for online spending. Although it has a limited feature set, it is a convenient solution for consumers who primarily transact online and need a basic card to facilitate their digital spending.
The second is the Silver plan, designed for users who need additional card options and enhanced benefits. For a monthly fee of €9.99, users can enjoy up to three virtual cards, one physical card, and a 1% BTC reward on all purchases.
Finally, the Gold plan is a premium offering, giving users a full set of features and benefits. Priced at €19.99 per month, this plan includes up to five virtual cards, one physical card, and 2% BTC cashback.
The Llama brand
Lama, as an EU-registered crypto exchange, is dedicated to bridging the gap between crypto and traditional financial services. The platform attempts to create a seamless and secure experience for users by working with industry-leading service providers and following high compliance standards.
One of the key aspects that sets Lama apart is its partnership with Ledger, a renowned provider of institutional-grade custodial services. By leveraging Ledger’s technology, Lama ensures that client funds are stored securely and robustly.
In addition, Lama has obtained certification for compliance with the Payment Card Industry Data Security Standard (PCI DSS). This certification demonstrates Lama’s commitment to the highest security standards in handling cardholder data.
Lama joins other crypto firms to issue payment cards
Notably, Lama joins Gate.io, Crypto.com, and Bybit among other crypto trading platforms to offer crypto debit cards to customers. According to a previous report, Gate.io’s parent company has collaborated with electronic payment facilitator Visa to launch a crypto card for European users.
Meanwhile, Crypto.com has operated a debit card system for years, while Bybit recently collaborated with Mastercard Inc (NYSE: MA) on a similar product. Remarkably, Visa’s crypto card program includes working with 50 of the top crypto platforms to develop white-label Visa-branded debit cards. These aim to simplify digital currency spending with the 70 million merchants worldwide.
Benjamin Godfrey is a blockchain enthusiast and journalist who loves to write about real-world applications of blockchain technology and innovations to drive mainstream acceptance and global uptake of emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain-based media and sites. Benjamin Godfrey is a sports and agriculture enthusiast.