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Vancouver based Cryptocurrency gateway company NetCents Technology has announced Thursday its Cryptocurrency Credit Card Program has reached the beta stage, calling for digital currency enthusiasts to apply online for the programme.
A statement by Clayton Moore, CEO, Founder and Director NetCents Technology, the company is perfecting the integration of the credit card program into user portal and Instant Settlement program.
Meanwhile, the moment the Cryptocurrrency Debit Card is complete, the firm will launch a trial alpha period in the next couple of months. Around the period, NetCents aims to accept applications that will be added to the Springs’ beta period.
According to the firm, the beta stage is expected to run for 4-8 weeks, during this period, the credit card program will be rolled out to all Canadian users.
At first, Canadian residents who have Bitcoin, Litecoin, Ether, and Bitcoin Cash have access to the proramme. However, they are urged to sign up for a NetCents user account.
The moment the programme is rolled out in Canada, the firm says it will launch the credit card to European cryptocurrency holders as well.
Interestingly, the NetCents Card will be able to be used anywhere, at over 40 million merchants worldwide, that Visa is accepted.
This crypto credit card is distinct from others for the fact that NetCents cardholders will not have to pre-load cryptocurrency onto their card, an innovation that reduces the risk of the value of the cryptocurrency fluctuating before the users spend it.
The card is to be linked with users’ NetCents wallets, which allows cardholders to directly spend the digital currency in their respective wallets without stress.
The card, going by the update, is to be linked into the NetCents mobile application and have chip, pin, mag stripe, and NFC functionality.
NetCents says it will be adapting its merchant Instant Settlement technology to get the cryptos converted fiat for seamless and instant consumer purchasing and merchant payouts.
While the latest development is a blessing for Verge (XVG), Tron (TRX) and some other digital currencies that have been integrated on NetCents cryptocurrency gateway, the move will increase the adoption of digital currencies across the world.