Gnosis unveils self-custody card for crypto shopping
Gnosis Pay has officially released a self-custody card to the public, igniting a new wave of excitement among crypto enthusiasts.
Gnosis announced in a Feb. 17 post on X that this pay option is free of any usage fees for its early adopters. It marks a significant milestone by introducing seamless on-chain asset spending at over 80 million Visa-accepting merchants globally.
Gnosis’s strategic expansion into the U.K. and Switzerland arrives months after its successful launch in Europe, emphasizing its commitment to fostering the interaction between decentralized finance (defi) and traditional financial systems.
The approach champions user autonomy, allowing individuals to manage and spend their cryptocurrencies easily—a refreshing development coming in the wake of the collapse of numerous crypto exchanges along with billions in user funds.
In an interview before the launch, Dr. Friederike Ernst, co-founder of Gnosis, highlighted the Gnosis Card as a pioneering instrument chipping away at the long-standing barrier separating crypto holdings from tangible, real-world applications.
According to Ernst, the card conveys a dual existence where digital assets can effortlessly transition into everyday transactions, heralding a new era of financial empowerment and versatility for consumers.
The company is not resting on its laurels; it has set its sights on global horizons, targeting expansions to Brazil, Mexico, Singapore, and Hong Kong.
The ultimate goal, Ernst says, is a robust infiltration into markets well beyond the crypto-savvy in a bid to cement a future where digital assets are as spendable as their traditional counterparts.
Gnosis Pay has also entered into several partnerships, including one with MakerDAO to integrate the stablecoin DAI and its economic model. The goal is to reinvest the surplus from card sales into vital infrastructure.
With the Gnosis Card, the company isn’t just issuing a payment solution but also reinforcing the utility of its GNO token and the overall blockchain ecosystem’s scalability.
The company is also reportedly linking up with Monerium, as well as collaborating with other fintech innovators, to lay the groundwork for a more cost-effective, decentralized, and open-source financial ecosystem.
EDITOR’S NOTE: This report originally stated that the expansion was in the U.S. This has been corrected.
