Just-In: Gnosis Unveils Visa-Certified Debit Card at Ethereum Conference
Gnosis, a leading blockchain company, has unveiled Gnosis Pay and Gnosis Card, marking the world’s first decentralized payment network and self-custodial debit card. The official announcement was made at The Ethereum Community Conference (EthCC), the largest annual European Ethereum04-days event.
Gnosis Pay and Gnosis Debit Card
Ethereum’s sidechain Gnosis, introduces Gnosis Pay and Gnosis Card, pioneering the integration of decentralized payment networks with traditional processors and a Visa-certified consumer debit card connected to an on-chain self-custodial wallet.
It will initially be available in EU and EEA countries, along with the UK. Expansion plans for Q4 include the United States, Brazil, Mexico, Singapore, and Hong Kong. This innovative offering differentiates itself from other Web3 payment cards as it is not prepaid.
These innovative offerings enable users to pay for online purchases using stablecoins and Visa’s payment system. Gnosis Pay operates as a layer 2 solution on the chain, ensuring faster and more cost-effective transactions, stemming from a collaboration between Gnosis and payment processor SaltPay.
Revolutionizing Crypto Payments
Upon launch, users will have the ability to spend EURe, a stablecoin pegged to the Euro, on the Gnosis Card. The team behind Gnosis Pay is actively working on integrating MakerDAO’s decentralized stablecoin, DAI, for further payment options.
With Gnosis Pay, you can spend your digital assets directly from you wallet wherever Visa is accepted.
Initially, Gnosis Pay will provide a physical card and web app, with a mobile app in the pipeline. Signing up for the service incurs a 30 EURe fee, marking the beginning of a new era in crypto payments.
Following its spin-out as a separate business in July, Gnosis maintained strong ties with Safe, evident in the incorporation of Safe wallets in their recent product offerings.