STEPN creator FSL launches GMT Pay, letting users spend crypto anywhere

The company behind the STEPN move-to-earn app partnered with MasterCard, enabling users to spend GMT tokens almost anywhere.

Crypto projects are stepping up their integration with traditional finance. On April 28, FSL, the Web3 firm behind the move-to-earn app STEPN (GMT), partnered with MasterCard to launch its own GMT Pay network. The card will enable users to use their GMT and GGT tokens directly for purchases, anywhere in the world.

Specifically, the company is launching the GMT Pay Gift Card, available in $50, $100, $200, and $300 denominations. Users can use the virtual card, powered by MasterCard, for both online and offline purchases, and add it to Apple Pay or Google Pay.

Users can now spend STEPN tokens easily

The goal behind this rollout is to enable users to spend their STEPN governance tokens (GMT) and game tokens (GGT) with all merchants that accept MasterCard. It allows users to spend the tokens without needing to go through crypto exchanges.

“Three years ago, the idea of a Web3 payments app felt like a distant dream. Today, it’s a reality. You can go for a run with STEPN GO, earn rewards, download GMT Pay, and seamlessly use your earnings to make real-world purchases. This is the evolution of Web3-bridging the gap between digital and physical worlds,” Yawn Rong, Co-Founder of FSL.

At the same time, the GMT card is available to users worldwide. While FSL notes that certain restrictions may apply, the card should generally be accessible globally.

“GMT Pay is the next step in empowering users to bring Web3 into their everyday lives. From fitness enthusiasts earning on STEPN GO to shoppers looking for global convenience, GMT Pay makes digital earnings useful in ways we couldn’t imagine just a few years ago,” Shiti Manghani, CEO of FSL, added.

STEPN is a walk-to-earn app with 5.7 million registered users, giving rewards whenever users engage in physical activity like walking and running.