European neobroker Bitpanda formed a partnership with Contis this week, as the duo are set to combine their operations to launch a new multi-asset debit card.
The new Bitpanda card will utilise the neobroker’s European-wide, multi-service platform and combine it with Contis’ unique ‘zero-ballance’ buffer technology, removing the need to liquidate assets before spending.
“Launching the Bitpanda Card together with Contis is another step in our leading vision of the personal finance revolution, allowing everyone to spend any of their assets, be that with crypto, metals, or fiat, as they please – easily, 24/7,” said Eric Demuth, CEO and Co-Founder of Bitpanda.
“No topping up is required. Everything that holds value should be treated equally and should be possible to use as you wish. The Bitpanda Card is the missing piece of the puzzle in the world of digital finance.”
The platform leverages over 55 digital assets including cryptocurrencies, precious metals and available fiat, enabling the card to push ‘the boundaries of crypto and asset spending in Europe’.
Cardholders can use the product wherever Visa is accepted as a payment method to automatically convert any digital assets in their Bitpanda account to fiat at point-of-sale, in both online and retail transactions.
It can be linked to any asset in a user’s Bitpanda portfolio and cardholders can easily switch commodities or currencies – for example, from cryptocurrency to gold – and spend in real time via the app.
Contis Executive Chairman, Peter Cox, remarked: “Crypto continues to move forward at pace, and Contis is proud to spearhead the charge with partners such as Bitpanda. We’ve seen record levels of crypto investing this past year and cryptocurrencies are increasingly being used as an everyday currency as well as an asset.
“Combining the practicality of fiat with the benefits of blockchain has helped prove the long-term legitimacy of digital finance. A card that allows seamless spending is one of the leading-edge innovations for crypto accounts.
“We’re seeing considerable uptake among crypto providers for card products that include ‘zero balance’ capabilities. In partnership with Contis, industry leaders such as Bitpanda continue to drive innovation in spending crypto and deliver cutting edge products for their customers.”
Bitpanda is the latest firm to join forces with Contis, following a cash efficiency partnership with Pin4 in January 2021. The banking-as-a-service and payments provider also signed an agreement with Mastercard in December 2020, which saw the latter become a principal issuing member of the platform.