Does your project include the release of Cryptocards?

Cryptocean
Sep 1, 2018 · 2 min read

The service provides for the release of cryptocurrency cards — bank cards with a full range of features, such as PayPass, tied to multi-currency crypto-wallets. With the help of crypto cards, you can pay for goods and services, receive cash in ATMs.

The user’s funds can be stored in one or several cryptocurrencies. When paying or withdrawing money from the account, a choice of crypto currencies is made in accordance with the priorities indicated by the user and the the most favorable exchange rate.

Crypto cards are issued jointly with partner banks, which provide accounts to service customers. Banks provide legality of operations and execution of KYC & AML procedures, but they only work with fiat currencies.

As a result of integrating banking services into CRYPTOCEAN, it is possible to automatically exchange any cryptocurrencies for fiat money in the user’s multicurrency crypto wallet. Using the service while converting the cryptocurrency makes the commission lower due to the choice of the best method of exchange. From the point of view of the bank, the client only works with fiat money. All crypto-exchange transactions are handled on the side and under the CRYPTOCEAN license.

Checking the balance and operations on the card as well as transfers and payments can be done using the service interface — web, mobile and PC app. The bank carries out payments via Visa, MasterCard, UnionPay or similar payment systems.

Cryptocean

Written by

CRYPTOCEAN is an blockchain based ecosystem that combines financial and technological services for working with crypto-currencies and traditional fiat money.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade