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Mastercard Partners with Floki Inu for Crypto Debit Card Launch
Mastercard is making strides in the cryptocurrency sector through a new collaboration with Floki Inu, a well-known memecoin project. This partnership has culminated in the launch of a debit card that supports Floki Inu tokens, which are currently valued at around $0.0002313 (approximately Rs. 0.20). Floki Inu’s developers have also rolled out a dedicated webpage that details the card’s features and advantages.
The Mastercard debit card is being introduced just ahead of the festive shopping season, targeting consumers likely to increase their spending on gifts and other purchases. The card will be offered in both physical and digital formats, with a gradual introduction planned. Physical cards will be available in 31 European nations, while virtual cards will be accessible on a global scale, enabling users to shop and gift using cryptocurrencies.
Highlights of the card include the elimination of transaction and exchange rate fees. Users can conduct monthly transactions of up to 20,000 USDT. The physical version of the card allows daily transactions up to this limit, whereas the virtual counterpart has a daily cap of 5,000 USDT, as stated on the official webpage.
According to Floki’s official communications, there is a one-time fee of EUR 32 (approximately Rs. 2,867) for the physical card and EUR 10 (about Rs. 895) for the virtual card. Additionally, a two percent top-up fee applies, and users can add funds using various cryptocurrencies, including Bitcoin, Ether, USDT, USDC, Binance Coin, Solana, Floki Inu, and others.
The Floki Debit Card is now live, enabling users to leverage their cryptocurrency holdings at millions of merchants worldwide that accept VISA or Mastercard. Key features include:
- 0% transaction fees
- 0% exchange rate fees
- Support for multiple blockchain assets
The card’s availability could be a significant step for Floki Inu in attracting a larger user base. Created in July 2021, the Floki memecoin operates as a decentralized initiative, embracing community governance. As of December 10, Floki Inu is ranked 60th on CoinMarketCap, with a circulating supply of 9,597,320,681,907 FLOKI tokens and a market cap surpassing $2.2 billion (roughly Rs. 18,912 crore).
Mastercard has been actively revising its engagement with the cryptocurrency industry. Earlier this year, it initiated its Crypto Credential program, aimed at assessing potential applications in the crypto space. Additionally, Mastercard’s Start Path program recently welcomed five startups to explore blockchain technology for scalable payment solutions. In April, the firm also partnered with 1Inch to roll out crypto debit cards, indicating a consistent effort to bridge traditional finance with digital assets.
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www.gadgets360.com