1inch Unveils Groundbreaking Web3 Debit Card, Bridging Crypto and Fiat Worlds

Introducing the 1inch Card, an innovative Web3 debit card issued by Baanx's Crypto Life and powered by Mastercard. This card enables users to seamlessly spend their crypto for online and in-person purchases, and withdraw cash at ATMs worldwide. 1inch, renowned for its user-friendly DeFi solutions, joins forces with Mastercard and Crypto Life to offer a physical and virtual card that bridges the gap between Web2 and Web3, providing the convenience and security of traditional finance with the benefits of decentralized finance.

1inch Unveils Groundbreaking Web3 Debit Card, Seamlessly Bridging Crypto and Fiat Worlds

London, United Kingdom - 1inch Network, a leading decentralized finance (DeFi) platform, has partnered with Baanx's Crypto Life and the Mastercard network to introduce a revolutionary Web3 debit card. This innovative card empowers users to seamlessly utilize their crypto assets for everyday purchases, both online and offline, and enables convenient cash withdrawals at Mastercard-supporting ATMs worldwide.

Unveiling a New Era of Crypto Utility

The 1inch Card seamlessly converts cryptocurrencies into fiat currency at the point of sale, eliminating the need for manual exchanges or asset transfers. This elegant solution allows users to seamlessly spend their crypto holdings, unlocking the full potential of digital assets in everyday life.

Physical and Virtual Convenience

The 1inch Card comes in both physical and virtual formats, providing users with the flexibility and convenience of a traditional debit card. The physical card features a number, validity date, and CVC, ensuring secure and straightforward payment transactions. The virtual card offers the same functionality for online purchases and contactless payments at compatible stores.

ATM Accessibility and Cash Withdrawals

In addition to its payment capabilities, the 1inch Card enables users to withdraw cash from any ATM accepting Mastercard. This feature further enhances the utility and accessibility of crypto assets, allowing users to convert their digital holdings into physical currency at their convenience.

Transforming Mass Adoption of DeFi

"This is a pivotal moment in the mass adoption of DeFi," said Sergej Kunz, co-founder of 1inch. "The 1inch Card seamlessly bridges the gap between DeFi's benefits and the convenience of traditional finance, making it accessible to a broader audience."

Mastercard's Innovation and Security

"We are proud to collaborate with 1inch to create an innovative solution that connects the Web2 and Web3 worlds," said Christian Rau, Senior Vice President, Crypto and Fintech Enablement at Mastercard. "Leveraging Mastercard's advanced technology and security standards, the 1inch Card offers peace of mind and unparalleled protection."

Baanx's Commitment to Financial Empowerment

"We are excited to integrate the Crypto Life Card into the 1inch user ecosystem," said Simon Jones, CCO of Baanx and Crypto Life. "This partnership aligns with our mission of empowering individuals to access and utilize their money in ways that enhance their financial well-being."

Initial Availability and Expansion Plans

The 1inch Card powered by Crypto Life and Mastercard will initially be available to users in the United Kingdom and the European Economic Area (EEA). Interested individuals can join the waitlist at 1inch.io/card. The rollout will gradually expand to other regions in the future.

About 1inch

The 1inch Network is a decentralized protocol network that empowers users to efficiently and securely navigate the DeFi landscape. Its dApp provides access to hundreds of liquidity sources across multiple blockchains, including the 1inch Aggregation Protocol, Liquidity Protocol, Limit Order Protocol, and Wallet – a fast and secure mobile application for managing crypto assets.

About Mastercard

Mastercard is a global technology company in the payments industry, connecting and powering an inclusive, digital economy that benefits everyone, everywhere. Through secure data and networks, partnerships and passion, its innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. With connections across more than 210 countries and territories, Mastercard is building a sustainable world that unlocks priceless possibilities for all.

About Crypto Life Card

Crypto Life Card, owned by Baanx Group Limited, is dedicated to creating a new paradigm in financial services. It aims to provide seamless customer experiences, empowering individuals to achieve their financial goals, regardless of their location or circumstances.