Fintech firm Spend has introduced Visa Cards for cryptocurrency users in Canada.
The newly introduced Spend Visa Card suite will enable the cardholders to use it as conventional debit cards across the globe at Visa Checkout Stores.
The offering is issued by DirectCash Bank following a license from Visa International.
These crypto cards are linked with Spend Wallet, which stores the cryptocurrencies. The user can activate the desired asset in the wallet and swipe the Spend Visa Card at the store. The crypto asset immediately liquidates into local fiat to complete the transaction.
Spend president Bryan Woods said: “Never before has a company created and executed the technology to be able to spend cryptocurrency assets the same way as cash.
“We are the only company that allows users to spend without first having to sell their assets.”
The crypto suite includes three variants with different daily spend limits – Spend Simple, Spend Preferred and Spend Black.
The Spend Simple card has a $500 daily limit, while the Spend Preferred variant has a $5,000 daily limit. The Spend Black comes with a spending limit of $10,000 per day.
All the variants offer the holders up to 6% back as well as referral rewards of up to $100.
Earlier this year, Spend launched these Spend Visa Cards in the US market.