The Wallet provider is a company that aims to help the unbanked in the Bitcoin payment industry. Edge, the company behind Edge cryptocurrency wallet has today announced the launch its new Confidential MasterCard. This card does not require KYC or personally identifiable data.
Edge CEO and co-founder Paul Puey told Decrypt that he doesn’t know your name or phone number. “Definitely not your real address. Nothing. Within Edge, you can create a virtual credit card in less than 15 seconds.
Privacy is important, but Puey believes that economic empowerment is the core principle of the Edge Mastercard.
Puey said, “I have known a few people who aren’t banked. They simply can’t get a banking account for any reason.”
This card is not just for Bitcoin. Decrypt Puey explains to that users have the option to sell Bitcoin Cash, Dogecoin and Litecoin to fund their Edge Mastercard so they can shop at US-eligible merchants.
The Edge Mastercard will launch with a $1,000 daily spending limit. It can also be used with Apple Pay with Samsung or Google Pay later. This month, you will be able to order a physical card at $20.
Edge customers can fund their accounts by selling their Bitcoin in their wallet. Instead of sending funds to a bank account, they can send USD to their Edge Mastercard to purchase instead.
Puey says there are no fees for adding funds to a credit card. He also explains that anyone who wants to shop online can simply copy and paste the card information and then add a shipping/billing adress to the order.
Edge is one of the Web3 companies that has recently entered the Bitcoin payments market for everyday purchases. The April launch of a Mastercard-backed cryptocurrency card in select European markets was made possible by Digital asset manager Nexo. Ledger has announced the launch a debit card which allows users to use their crypto as collateral or directly for cash purchases via the Ledger Live platform.