Lama joins Gate.io, Crypto.com, and Bybit amongst other crypto trading platforms in offering crypto debit cards to customers.
Crypto exchange Lama has launched its own branded cards from Visa Inc (NYSE: V). According to a press release shared with Coinspeaker, these cards can enable quick conversion of cryptocurrencies to fiat currencies, allowing users to spend their digital assets and Euros everywhere Visa is accepted.
Lama offers both physical and virtual Visa cards to cater to the diverse preferences of its user base. The physical card can be used for in-person transactions, just like any conventional debit or credit card. On the other hand, the virtual card can be utilized for online purchases and digital transactions.
Alongside this feature, the cards come with a range of exclusive benefits, including an enticing 2% Bitcoin (BTC) cashback on all purchases for users subscribed to the Gold plan. This distinct feature distinguishes Lama from traditional banking rewards programs by allowing customers to earn Bitcoin while making everyday purchases.
To cater to the diverse needs of its users, Lama has developed three Visa card plans that offer varying features and benefits. These plans aim to provide flexibility and options for users based on their preferences and usage patterns.
The entry-level plan offered by Lama is a Bronze card. It is a free plan that provides users with a single virtual card for online spending. While it has a limited feature set, it is a practical solution for consumers who primarily conduct online transactions and require a basic card to assist their digital spending.
The second is the silver plan, designed for users who require additional card options and enhanced benefits. For a monthly fee of €9.99, users can enjoy up to three virtual cards, one physical card, and a 1% BTC reward on all purchases.
Finally, the Gold plan is a premium offering, providing users with a comprehensive set of features and benefits. Priced at €19.99 per month, this plan includes up to five virtual cards, one physical card, and 2% BTC cashback.
The Lama Brand
Lama, as a registered EU crypto exchange, is dedicated to bridging the gap between crypto and mainstream financial services. The platform attempts to create a seamless and secure experience for users by working with industry-leading service providers and following high compliance standards.
One of the key aspects that set Lama apart is its partnership with Ledger, a renowned provider of institutional-grade custody services. By leveraging Ledger’s technology, Lama ensures that customer funds are stored in a secure and robust manner.
Furthermore, Lama has obtained certification for Payment Card Industry Data Security Standard (PCI DSS) compliance. This certification demonstrates Lama’s commitment to adhering to the highest security standards in handling cardholder data.
Lama Joins Other Crypto Firms to Issue Payment Cards
Notably, Lama joins Gate.io, Crypto.com, and Bybit amongst other crypto trading platforms in offering crypto debit cards to customers. According to an earlier report, Gate.io’s parent company has collaborated with the electronic payment facilitator Visa to launch a crypto card for European users.
Meanwhile, Crypto.com has operated a debit card scheme for years, while Bybit recently collaborated with Mastercard Inc (NYSE: MA) on a similar product. Remarkably, Visa’s crypto card program includes collaboration with 50 of the biggest crypto platforms to develop white-label Visa-branded debit cards. These are intended to make it simple to spend digital currency with the world’s 70 million merchants.