World Crypto Global
- Written by: Jared Kirui
- Fri, 05 Jul 2024
- Israel
KuCoin's Visa debit card KuCard has added support formultiple virtual and physical cards starting July 1, 2024, the companyannounced today (Friday). This latest offering will enable users to managemultiple cards and access a cashback program.Eying Flexibility in Personal FinanceKuCard promises enhanced financial flexibility forpersonal use, managing family expenses, or keeping separate cards for differentspending categories. This feature reportedly allows for enhanced budgeting,improved expense tracking, and easier access to funds. Additionally, users canaccess KuCard's crypto-to-fiat conversion and cashback rewards.To mark this launch, KuCard has reportedly unveiled alimited-time offer ending on July 7, whereby users can apply for a secondvirtual card for free or a second physical card for EUR 9.99. This promotion isreportedly available on a first-come, first-served basis.Launched in November 2023, KuCard is a Visa debit cardthat simplifies financial transactions by automatically convertingcryptocurrencies into local currency at the point of sale. The platformrecently introduced cashback programs offering up to 3% on purchases for allcardholders. KuCard is compatible with Google Pay and Apple Pay andcan be used anywhere Visa is accepted. Initially available in the EuropeanEconomic Area (EEA), the card aims to promote the adoption of blockchaintechnology by enabling users to use their cryptocurrency for everydaypurchases, online shopping, and ATM withdrawals.Other Developments at KuCoinThis latest development comes amid the cryptoexchanges new tax policy for its Nigerian users. A few days ago, KuCoinannounced that it would impose a 7.5% value-added tax (VAT) starting July 8 ontransaction fees for users with Know Your Customer (KYC) information registeredin Nigeria.However, the crypto exchange clarified that the newtax policy only applies to the fee charged per transaction and not the overalltransaction amount. In February, KuCoin collaborated with Revolut on anew method for purchasing digital assets using euros. This collaborationenables users to acquire various cryptocurrencies listed on the cryptocurrencyexchange through Revolut Pay.KuCoins partnership with Revolut seeks to simplifythe process of acquiring crypto for European users. Revolut Pay enables usersto convert euros to a variety of supported cryptocurrencies. This partnershipaddresses the growing demand for easy access to digital assets, especiallyamidst the ongoing surge in the value of Bitcoin. This article was written by Jared Kirui at www.financemagnates.com.
