A Swiss financial institution has entered into a new partnership with a crypto wallet service, aiming to simplify the process of converting cryptocurrencies into fiat and welcoming more users to the decentralized finance (DeFi) space.
Fiat24, a Swiss financial institution, has teamed up with SafePal, a crypto wallet provider, to introduce a crypto Visa debit card alongside an in-app banking service. This strategic collaboration addresses the challenges users face in converting cryptocurrencies into fiat currency. Currently, this process involves multiple steps, high fees, and delays inherent in blockchain transactions.
To alleviate these challenges, Fiat24 and SafePal have launched a crypto Visa debit card with an integrated banking service. This offering bridges the gap between digital assets and traditional banking, providing users with a seamless experience for managing their finances across both realms.
The partnership leverages Fiat24’s status as a Swiss-licensed financial entity and SafePal’s comprehensive crypto wallet suite, which includes hardware, mobile app, and browser extension wallet solutions. SafePal, backed by industry leaders like Binance Labs and Animoca Brands, serves over 10 million users worldwide and supports a wide range of blockchains and tokens.
The joint service primarily utilizes USD Coin (USDC) as the default deposit currency, enhancing accessibility and ease of crypto transactions. By partnering with Circle, a global financial technology firm, Fiat24 and SafePal aim to mitigate common onboarding challenges for newcomers to the crypto space, ensuring a smoother transition into the ecosystem.
This partnership not only simplifies the conversion of digital currencies to fiat but also sets a new standard for accessibility and effectiveness in the crypto space. By broadening access and streamlining processes, Fiat24 and SafePal aim to usher in a new era of financial autonomy and inclusivity, where managing both digital and fiat currencies is effortless.
