Floki, Mastercard launch 13-crypto debit card in Europe

Floki and Mastercard have introduced a debit card that will be available in physical and virtual form in 31 European countries. The card supports eight blockchains and can be funded with FLOKI and other cryptocurrencies.

A card to spend 13 cryptocurrencies

The Floki Debit Card can be issued in 31 countries that correspond to the European Union and European Free Trade Association member states. Virtual gift cards are available worldwide. The cards are issued in conjunction with Mastercard and can be used wherever Visa and Mastercard are accepted.

There are no transaction fees, but the top-up charge is 2%. There are also one-time setup fees. It has a 5,000 Tether (USDT) daily limit.

The card can be funded with Floki Inu (FLOKI), Bitcoin (BTC), Ether (ETH), Tether coins (USDT, EURT, XAUT), Circle (USDC), BNB (BNB), Solana (SOL), DOGS (DOGS), Hamster Kombat (HMSTR), The Open Network (TON) and Notcoin (NOT).

Floki announced its intention to issue a debit card in March as one of the first elements on its roadmap. The cryptocurrency is named after Elon Musk’s dog and has an active community of supporters who call themselves Vikings. It has a $2.63 billion market cap and total supply of 9.67 trillion coins.  

Floki’s flagship Valhalla gaming metaverse mainnet is expected to launch in the first quarter of 2025, after delays. Its ecosystem is based on the Ethereum and BNB Smart Chain networks.

Related: Visa and Mastercard: A boon for wallet holders, a threat to crypto exchanges?

Visa, Mastercard and the cryptoverse

The Floki Debit Card joins a growing group of crypto-powered payment cards supported by the so-called Visa-Mastercard “duopoly.”

Mastercard teamed up with exchange Crypto.com to issue a debit card in the Gulf Cooperation Council region earlier in December and rolled out credit cards with Bulgarian decentralized lending platform Nexo in Europe in August 2023.

Source: Floki

In April, Mastercard, Baanx and decentralized finance firm 1inch Network introduced a cryptocurrency debit card in Europe as well. Decentralized finance wallet MetaMask also issues a payment card in Europe with Baanx and Mastercard.

Visa has recent deals with the Puerto Rico-based FV Bank fintech and the Avalanche Foundation to issue debit cards.

 Magazine: Edgelord version of 3AC’s big fat bet on memecoin supercycle: Asia Express