US blockchain firm announces crypto debit card

Ternio has announced the development and availability of BlockCard to accelerate the use of blockchain and cryptocurrency

7Jan

US-based blockchain company Ternio has announced the general availability of its crypto debit card, "BlockCard", that can be used online or in physical stores worldwide.

The BlockCard supports four cryptocurrencies, Bitcoin (BTC), Ethereum (ETH), Stellar Lumens (XLM) and Ternio (TERN) and has plans to add more currencies throughout the year. Users will need to sign up on their website to leverage the new crypto-based BlockCard which is offered via a virtual or physical card.

Ternio was founded in 2017 with the intention to drive the adoption of blockchain and cryptocurrency.

Ternio's COO & founder Ian Kane stated that with the development of BlockCard, Ternio aims to "accelerate the use of blockchain and cryptocurrency into everyday life" and "remove the notion that crypto is only a speculative asset".

According to blockchain firm, BlockCard is one of only three approved crypto debit cards in the US and is currently the only card to support multiple cryptocurrencies. Additionally, the company added that it is the only card to offer real-time spending of cryptocurrency by processing transactions through a crypto exchange.

Ternio CEO and founder Daniel Gouldnman said: "We want to give consumers the option on which digital asset they use to fund their BlockCard account.

"Card holders decide if they want to buy a bagel with their Bitcoin or a latte with their Stellar Lumens. Most importantly, these transactions occur on digital asset exchanges, which helps to propel the crypto community."

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