NAKA Goes Live: The First Non-custodial Payment Card Fully Compatible with Traditional Payment Infrastructure

October 25th, 2023 at 1:27 pm UTC · 4 min read

NAKA Goes Live: The First Non-custodial Payment Card Fully Compatible with Traditional Payment Infrastructure
Photo: NAKA

Imagine hooking your globally accepted Visa or Mastercard to your non-custodial crypto wallet – giving you sole control over your money, and being able to use it at any existing point-of-sale, ATM, cash register, e-commerce and more. Meet NAKA.

NAKA made its grand entrance onto the world stage with the unveiling of its groundbreaking blockchain-based payment system and EMV-compatible NAKA card. CEO Dejan Roljic announced this exciting development during his closing speech at the Plan B Forum in Lugano, Switzerland.

This moment represents a significant milestone in the history of payments, as it marks the first public demonstration of an EMV-compatible blockchain-based payment scheme and its corresponding self-custodial payment card, fully aligned with industry standards.

Already operational in Switzerland, the NAKA scheme and NAKA card have garnered support from over 300 stores in Lugano. This pioneering solution is soon to be available in El Salvador and Slovenia.

For more information about NAKA, visit the official NAKA website.

How Does the NAKA Scheme Differ from Visa or Mastercard?

The NAKA scheme is a payment network built on blockchain technology, yet it seamlessly aligns with the EMV (Europay, Visa, Mastercard) standard, ensuring compatibility with conventional payment infrastructures worldwide. This innovation facilitates the integration of blockchain payments into existing payment systems, offering a clear path toward global cryptocurrency adoption.

NAKA payment transactions and settlements are executed via smart contracts on the Polygon network. This process is user-friendly, rapid, and cost-effective compared to traditional payment transactions.

What sets NAKA apart is its self-custody feature, granting NAKA cardholders full ownership of their funds without the need for intermediaries when managing their assets.

Dejan Roljic on Financial Inclusion

NAKA’s CEO Dejan Roljic delivered an impassioned speech addressing the dire issue of financial exclusion, particularly among the unbanked population. He shared his vision of NAKA as a pathway to economic freedom, leaving the audience deeply moved.

Dejan Roljic, CEO of NAKA:

“Being unbanked doesn’t just mean not having a payment card. It means not having an option to ever get a fair salary or having a credit score. It means you will never obtain a loan. Having your own apartment is just a dream, but worst of all, you can never get old. There is no pension for people who didn’t receive their money via a bank account and paid taxes. Once you are old and living unbanked, you need to ensure you don’t get sick. If you get sick, you can’t work; if you don’t work, you can’t buy food, pay rent, or buy medicine.”

Dejan’s message to the blockchain-savvy crowd was clear: NAKA is on a mission to effect positive change in society, and all who share this vision and passion are welcome to join the journey toward economic freedom for all.

The speech extended into a panel discussion, moderated by Joe Nakamoto, where Dejan Roljic, Paolo Ardoino (CEO of Tether Foundation), and Luis Pinedo (Head of Product at Bitfinex Pay) discussed how NAKA, Tether, and Bitfinex are driving cryptocurrency adoption in Switzerland, the European financial hub, and emerging markets such as El Salvador.

NAKA Goes Live: The First Non-custodial Payment Card Fully Compatible with Traditional Payment Infrastructure

First NAKA Cardholders at Plan B Forum

The NAKA team hosted an impressive showroom experience at the elegant Villa Ciani in Lugano during the Plan B Forum event. Visitors had the opportunity to shop in the NAKA shopping corner and witness NAKA card transactions in real time. A select few were even granted exclusive NAKA cards pre-loaded with USDt, accepted across the venue and throughout the City of Lugano.

Additionally, the NAKA team engaged in partnership discussions with various payment facilitators. NAKA has distinct partnership programs for Issuers, Acquirers, and Independent Sales Organizations, fostering a network of partners to expand the reach of the NAKA solution to new markets.

If you are interested in becoming a NAKA cardholder, please join the waitlist. For partnership opportunities, kindly contact us through the Partnership form on our website.

About NAKA

NAKA is a FinTech company developing a comprehensive suite of financial products and services, including a dedicated self-custody payment card, a blockchain payment scheme, and a holistic point-of-sale payment solution, offering a complete payment ecosystem. Built on the foundation of GoCrypto’s success story, NAKA’s blockchain-powered financial ecosystem bridges traditional and decentralized finance, committed to decentralizing finances and achieving financial inclusion for all. Its vision is to pioneer decentralized technology solutions that empower individuals, transcending boundaries to provide universal access to financial freedom for everyone.

Contact

Nuša Sterniša, PR Manager

[email protected]

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