Digital asset management company Nexo has announced a collaboration with global payments company Mastercard. As a result of this cooperation, the world’s first crypto-supported payment card will be issued. Initially, such crypto payment cards will be available in some European countries. MasterCard provides the payment infrastructure for the use of such cards.

The cardholder will have the right to use the cryptocurrencies belonging to him as collateral and to spend up to 90% of the nominal value of the cryptocurrencies. For Nexo Card transactions up to € 20,000 per month, no fee is charged to the cardholder.

Additionally, all transactions bring 2% bitcoin or NEXO tokens to the cashback card holder, which can be very attractive to cryptocurrency fund holders.

The card, which can be connected to Apple Pay and Google Pay, can be used at more than 92 million points worldwide with Mastercard support. Source