Coinspeaker
DeFi Aggregator 1inch Announces Web3 Debit Card in Partnership with Mastercard and Baanx

Popular decentralized exchange (DEX) aggregator 1inch Network has partnered with crypto card developer Baanx and payment giant Mastercard to develop a Web3 debit card. The card will allow users to perform a variety of transactions, including payments for online services, physical purchases, and card withdrawals. Withdrawals are limited to supported ATMs compatible with crypto-to-fiat transactions.

1inch Debit Card

1inch launched this card to cater to the average crypto user who needs more payment and financial options. The solution is helpful for people who are already used to conventional means of financial transactions and want a simple way to spend crypto. In an interview, 1inch co-founder Sergej Kunz explained:

“We already have a lot of people who are using 1inch for swaps, limit orders and also as a developer portal. But we wanted to also onboard the man on the street who is holding crypto. So we decided to...