This is a fresh stride in Ledger’s democratization of digital assets. The Crypto Life card, which has already been introduced in the UK, is now entering the European market. We should examine the implications of this and the features that users will be able to activate collectively.
A project suggested in association with Baanx.
After a successful debut in the United Kingdom, the financial company Baanx and the French startup Ledger, which leads the globe in the marketing of cold crypto wallets, announced the launch of its Crypto Life (CL) card in Europe at the end of last week.
The renowned card, the outcome of the two organizations’ partnership, has previously been shown during the Ledger Op3n event, which was held in December 2021. This card will enable users of Ledger products, such as the Ledger Nano S or the Ledger Nano X, to make cryptocurrency payments at businesses that are part of the Mastercard network. However, this card will also allow users to obtain digital items.
The card provides the opportunity to earn rewards if it successfully democratizes the use of digital assets as a form of payment. Users will also have the option of receiving incentives up to 1% of their purchases in BTC or USDT doing this. It should be noted that 2% BXX token cashback, the native token of the fintech Baanx, will also be an option.
The brand’s head of international development, Jean-François Rochet, expressed his excitement and satisfaction at the debut of the card in Europe in a press statement that was released at the end of the previous week.
What characteristics does Crypto Life have?
Ledger’s own crypto card, even though it is not novel, varies significantly from the majority of other commercially available options. In fact, centralized players typically provide this sort of service. Thus, you are able to use a bank card and withdraw cashback from it on the Binance platform or the Crypto.com exchange. However, these participants in the realm of cryptocurrencies are centralized. Unlike Ledger, which emphasizes the decentralized nature of digital asset storage.
The user will be able to maintain and recharge their Crypto Life card using the Ledger Live app. And it’s all free. Additionally, the card will establish a line of credit using your digital assets as security. As we’ve seen, the card will primarily enable payments to be made to businesses that are a part of the MasterCard network. a feature made feasible by the immediate exchange of digital assets for fiat money after payment. In this regard, our operation is comparable to that of Binance or Crypto.com cards.
Users will also be able to receive their salary in digital assets through this card and in accordance with the applicable regulations.
