EasyOnRamp, a cryptocurrency payment platform based in South Africa, has launched a crypto payment card powered by Visa. It will enable its users to spend cryptocurrencies like Bitcoin, Ethereum and USDT in their daily lives throughout the country.
About EasyOnRamp’s Visa-Backed Crypto Cards
The company announced crypto card rollout on its website and social media. The team claimed that the product is “the easiest way to spend your crypto like real money in South Africa”. Users will have the option to “load with USDC, BTC, ETH & more” and use the card “anywhere Visa is accepted”, the platform added.
EasyOnRamp says the service will eliminate the tedious off-ramping process. For this, it would automatically convert cryptocurrencies to South African rand at the point of purchase. The company’s marketing efforts centered on the tagline: “Make every Rand count — now in crypto.”
Both virtual and physical Visa cards are included in the launch. Users can first get a digital card after they register. With more users joining, EasyOnRamp will make the physical cards available through the platform.
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How EasyOnRamp Compares With Bybit
EasyOnRamp will now fight some of the world’s largest exchanges that are also aggressively expanding crypto payment services in Africa. One of the major competitors is the Bybit exchange.
Bybit’s crypto card is available in a few markets across Africa, such as South Africa. It also allows customers to use cryptocurrencies such as BTC and USDT for automatic conversion to fiat at checkout.
Moreover, the exchange provides various other benefits, including cashback rewards and loyalty programs. In addition, it offers support for mobile payments like Apple Pay and Google Pay. Currently, EasyOnRamp is lacking in these services, as it just launched its crypto card. Also, it seems to be looking to become a local payments and treasury service provider.
Nonetheless, the company defines its platform as “enterprise-grade infrastructure for South African businesses” on its website. Further, it features the ability to participate in regulated treasury services as well as instant crypto spending.
On the other hand, Bybit focuses on crypto payments in the international market. Whilst EasyOnRamp is focusing on adoption and functionality that will enable users to buy and spend using the local currency, the Rand.
Why It Matters
South Africa has become one of the most vibrant crypto markets in Africa. The demand for viable payment methods that are linked to cryptocurrencies is increasing. The launch of another Visa-backed crypto card via EasyOnRamp marks another step towards competition among crypto providers.
Recently, digital asset firms have been aiming to connect cryptocurrencies to the traditional retail payment system. Another important aspect of EasyOnRamp’s launch is the general shift in the digital asset industry towards promoting the practical daily use of digital assets.
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