It’s long been our mission to make the Ethereum economy more accessible to the average customer. With that in mind, we are delighted to announce customers can now purchase crypto through our app, as well as spend it in the real world.
The two faces of finance at your fingertips
The mission here at Monolith has always been to bring the Ethereum economy to life for customers by enabling them to hold their wealth in crypto and spend in the real world. To that end, our Visa card linked to our Ethereum wallet was groundbreaking back in 2018. But we knew we had much more to do….
This year we have already widened our offer. In March 2020, the addition of the swaps (powered by a decentralised exchange aggregator) further expanded the options available while holding tokens in the Monolith wallet.
We have widened the range of tokens you can hold on your wallet and exchange for fiat currency. This includes a range of coins that provide price stability or the opportunity to grow your wealth by taking greater risk. For example, we’ve recently implemented support for aDAI on the card and wallet.
When it comes to the world of fiat currencies, the Monolith cards provide an easy & efficient gateway — enabling our users to conveniently spend their tokens anywhere without compromises. Today, after extensive internal and community testing, we’re thrilled to release another critical component of our streamlined DeFi experience: a crypto on-ramp solution, enabling our users to purchase tokens directly in the Monolith app (fiat-to-crypto exchange).
Buy DAI, straight in your Monolith wallet
We’re thrilled to announce a 0% fee for crypto purchases. Monolith will also sponsor the gas required to deliver the tokens purchased to your wallet (until further notice).
The feature is rolling out with support for DAI only, enabling purchases from any Visa or Mastercard banking card. We’ll add more tokens (most notably ETH) and further functionality as we scale out the feature.
The buy token feature will be subject to the following limits:
- Accessible only to users who went through the KYC/card ordering process.
- The limits are: 2,250 daily, 7,000 weekly, 20,000 monthly and 50,000 annually (£/€).
- This functionality is available to cards issued by Visa and Mastercard.
- The minimum purchase will be 250 (£/€).
We’re delighted to be able to deliver a cost-effective gateway to the world of decentralised finance. We’re looking forward to our upcoming releases, including new spendable tokens and diverse user experience improvement to further enhance our offering.
