Austin Kimm pointed out the importance of delivering on all the promises made by Crypterium at the beginning of the Livestream and went straight on point on what will happen in the next few months. The main focus of the discussion surely was the pre-order launch. As you probably know by now, we have started collecting orders for the first global crypto card, and the line is filling up quickly.
Well, it was the only way to go global, and a good one. First of all, UnionPay is a Chinese alternative to Visa and MasterCard and is bigger than both of them inside China. They are also rapidly expanding worldwide and are currently available in 168 countries. UnionPay is accepted in millions of merchants and in many key markets. Even in the US 80% of merchants accept their card as well as 95% of ATMs. Similar numbers are in Canada, Brazil and elsewhere.
UnionPay does not have strict rules like their competitors and that will let us onboard customers in an easy way. Surely, users would still have to go through the identity verification procedure. We have decided to go global because we see how our competitors don’t pay enough attention to many countries and regions, like Africa, India and Turkey. For example, 75% of Turkish merchants will accept UnionPay and crypto is big over there. Our main aim was to have a product that will meet everybody’s needs.
Unfortunately, UnionPay does not use NFC technology, cards are plastic and these cards also have plenty of advantages. However, Crypterium has other products lined up which are NFC and are Apple Pay and Samsung Pay compatible.
Crypterium is launching only 5000 cards at the moment as we are in a test mode. We have to understand the purpose for which cards will be used, how beneficial are they, what services will be better acclaimed among the users and so on. As soon as we understand what to improve and what services you prefer, cards will be launched globally in full production. Test cards will have a nice design but won’t be branded, however, as soon as full production is on surely they will have Crypterium logo and they will be fully branded.
Even on test mode, cards will have a $10,000 daily limit on transactions. That is, we believe, more than enough most of you will need. We are yet to set a monthly limit, it will be determined in the near future. Cards can be pre-ordered right now on a website, or in the Crypterium App once you update it to the latest version.
The actual pricing will be announced in 2-3 weeks time, however, we can already say that the commission will be very low and very competitive.
At the beginning of March, we will also launch a referral program - specifically for the card product.
Details are yet to be revealed but the main point is the following: more people you refer - the further you will go in line for cards delivery. Make sure to register quickly and receive your spot among the first 5000 lucky users. Overall, our goal is to issue over a million cards within the next 12 months.
We’re not going to stop with just one card solution. An exciting new product is on the way for our customers. Austin revealed the upcoming launch of the new feature that will let users pay out to any MasterCard around the world with minimal fees.
The service will be similar to the already existing IBAN bank transfers but now the customer base will increase significantly. Crypterium users will be able to send transfers to MasterCard accounts, people will be able to transfer funds to their friends, colleagues and even themselves. Money can be sent directly from the Crypterium App to any MasterCard. It is indeed a very exciting launch for us.
We want to be visible in the community and there are lots of interesting conferences coming up, so we decided to join in on them. We were invited to a Visa accelerator workshop group of companies in India and we are going to Mumbai. Austin will be there next week to attend Fintegrate conference. Digital assets and UnionPay are both big in India and we have big ambitions over there. We will be having a booth at the conference, and we also are a part of Visa FinTech Fast-Track. In Mumbai, we will hold discussions with many representatives from the largest international banks and payment services.
Overall, after some quietness during the Christmas break and the Chinese new year, the market shows a lot of positivity. Recent JP Morgan announcement about the creation of their own digital currency shows that even the biggest critics of crypto have high hopes on the industry. On our side, we have a lot of optimism and we will keep on delivering on all our promises.
Crypterium is one of the most promising fintech companies, according to KPMG and H2Ventures. We are building a mobile app that meets the banking needs of the digital assets era.
Our goal is clear: with Crypterium, whatever you can do with traditional money you will able to do with digital assets. This idea is supported, among others, by the co-founder of TechCrunch Keith Teare and over 400,000 registered users, and the number is growing by day.
The team is led by former General Manager of Visa Central & Eastern Europe Steven Parker, and C-level executives from global financial institutions, like Renaissance Insurance, London Derivatives Exchange, American Express etc.
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