Global cryptocurrency card provider FuzeX has partnered with Energi Mine, the UK-based blockchain energy company, to provide the next generation of electronic debit card to consumers.
For the first time, holders of cryptocurrencies will be able to view their balance from a credit card sized physical e-card, and then spend it as a payment currency using a EMV-compatible card.
Korea-based FuzeX has developed a new type of electronic payment card that allows for the instant spending of cryptocurrencies at merchants, using an electronic credit-card sized device.
In the near future, this card will also hold the details of the user’s existing regular credit and debit cards. It is partnering with UK-based Energi Mine, the blockchain company looking to financially reward energy saving behaviour.
The partnership will allow Energi Mine’s users to spend EnergiTokens (ETK) earned for their energy saving behaviour from using energy saving white goods, to using low carbon public transport.
Andrew Bae, CEO at FuzeX said: “FuzeX caters to a new generation of crypto-enthusiasts, those who wish to keep all their assets in cryptocurrencies and who shun regular banks. It gives them the ability to make purchases at merchants without having to hold fiat currencies.”
The FuzeX card contains an EMV chip, which enables it to be used like any other debit or credit card at merchants and retailers to pay for purchases in local currency.
However, the difference is that behind the scenes, payments are automatically routed to partner crypto exchanges and instantly debited from users’ cryptocurrency balances.
Andrew Bae continued: “Our partnership with Energi Mine represents the next step in creating a cryptocurrency ecosystem around the FuzeX card. One that will allow consumers to seamlessly spend all cryptocurrencies at merchants.
“We’re thrilled to be working with the Energi Mine team and look forward to supporting its vision of a decentralised energy market, while offering its customers a new way to use their EnergiTokens.”