Cryptopay — a prominent Crypto wallet and debit card service company — now allows users to use British pound (GBP) to conduct transfers via the Faster Payments Scheme.
In an Oct. 9 news release, the firm revealed that its United Kingdom-based users can avoid euro conversion charges through using GBP to make withdrawals and even fund their accounts.
“Upon activation users will get their own sort code and account number, which means that the transfers will bear the account holder’s name, not Cryptopay. This is especially important as some banks may block crypto-related transactions resulting in money getting stuck with no way to withdraw,” the release went on to further explain.
Territories and services Expansion
The company has already issued prepaid cards in Russia under its currently ongoing European card program. In that perspective, it hopes that other services like Bitcoin bank accounts, Bitcoin (BTC) brokerage, and ERC-20 tokens wallet and exchange will be launched before 2019 ends.
Crypto card products that Cryptopay, Bitwala, Wirex, and others provide were affected last January after Visa cut its working relationship with WaveCrest debit card provider. At first, speculations went around that Visa’s intention was to crack down on crypto services. But later, it was clarified that the decision was reached upon after WaveCrest violated some of the company’s policies.
Other recognized Crypto payment startups
Ethereum’s finance-oriented scaling network OmiseGo yesterday entered into a partnership with Hydro Labs to facilitate streamlining of Ethereum-based transactions for Hydro Pay.
Likewise, Samsung’s mobile payments service announced that it would be partnering with Finablr — payments platform a member of Ripple’s RippleNet. Reportedly, United States-based clients of the South Korean tech giant’s payments service will be free to use their credit or debit cards to send money.