BitPay, a bitcoin payments processor that is used by forex brokers, has announced it is rolling out its prepaid Visa debit card with bitcoins to 132 countries across the world.
The card can be linked to any bitcoin BitPay wallet and can be used for shopping online or in brick and mortar stores that accept Visa debit cards across the world, as well as for cash withdrawals from ATMs. The net cash in the card can be monitored and managed instantly through a mobile application.
According to BitPay, the card makes it possible for users to convert bitcoin into a spendable dollar, euro, or pound balance on a Visa Prepaid Debit Card in just minutes and solves the problems many merchants and users face in trying to convert their bitcoins into fiat currencies.
“Today’s news makes the BitPay Card the first prepaid Visa debit card available for bitcoin users in both the United States and in major bitcoin-using countries such as the UK, Germany, China, Japan, Argentina, and Brazil, along with 125 other nations”, said BitPay.
Besides being used as a payment for goods and services, bitcoin is accepted as a funding currency by an increasing number of forex brokers like FxOpen, FiboGroup, FxChoice, SimpleFX, FxPrimus, etc. FiboGroup is also working with BitPay.