Juice, an API startup, is setting up cryptocurrency credit card with the help of Dollar Mastercard to allow users to spend cryptocurrency assets both online and in physical stores, as reported by punchng.com and other media outlets on Wednesday, September 1. To provide users with physical and virtual debit cards, the company has established partnerships with cryptocurrency exchanges around the world. USDC settles and backs Juice Mastercards.
Juice is using an API suite to aid all crypto exchanges in assisting their users with making it easier for them to spend digital assets. The debit Mastercards are funded by crypto in U.S. dollars and can be tailored to the needs and brand style of each exchange. Juice is a product studio that develops infrastructure to help connect decentralized finance (DeFi) and users, according to the company’s website. The Dollar Mastercard is a company-branded cryptocurrency credit card designed specifically for crypto firms and can only be used at specific locations.
Aim of Cryptocurrency credit card
The company said it is the first global product that is addressing a “pain point for the crypto-to-fiat off-ramp.” Juice believes that its payment rails will “power the future of crypto exchanges becoming banks.” Juice said it is fully responsible for regulatory compliance. According to their website, users can issue their own debit cards without getting in touch with a bank or a processor. Onboarding takes less than 48 hours.
As a company with over 300 million cryptocurrency users worldwide, Juice believes people should be able to use digital assets just like any other currency. Juice, founded in Texas, is focused on helping trade flourish worldwide. According to punchng.com, several global crypto exchanges have already integrated its APIs.
“We are trying to make complex technology feel useful daily,” the unnamed engineer said.
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Beyond allowing people to spend their digital assets whenever and wherever they choose, Juice is also offering a rewards program to anyone who introduces the company to a crypto exchange.
As soon as the exchange has been onboarded, the referral will receive commissions from every card transaction that the exchange’s users perform. The Juice Prepaid Mastercard is issued by Metropolitan Commercial Bank (Member FDIC) and the program is being managed by Praxell, Inc.
