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Unbanked Eyes More Countries as it Expands its VISA-Powered Debit Card Services

Unbanked creates a unique blend of crypto services that are melded seamlessly with traditional financial offerings. This creates a perfect platform and service for people who prefer to hold and use cryptocurrencies, but still want to enjoy spending these like fiat.

With most services already available all over the world across 200+ countries, its VISA-powered debit card is going beyond the United States and Europe, with several Asian and African countries ready to be added to the list.

A Card Powered by Cryptos

Efforts towards a holistic bank experience with cryptocurrencies are not possible without the ability to spend them whenever, wherever you want. That is why Unbanked offers its VISA debit card that enables its users to be free from the stress and worry of liquidating their assets first and then spending the money.

Backed by its native UNBNK token, Unbanked gives users the option to directly swipe their card across 28 countries, just like their regular cards.

The secret lies in the crypto to UNBNK conversion. Topping the card with any of the supported digital tokens is automatically converted to the Unbanked native asset which is then itself converted to fiat at the point of sale.

Supported currencies include the US, and 27 other countries across Europe such as the UK, EU, and EEA. Upcoming countries include Canada, the Latin America region, and even India.

UNBNK, A practical Crypto Asset

The beauty of using UNBNK as a base asset in the debit card is because of the way the token is utilized within the platform.

First, the UNBNK token is deflationary in nature. With 1 billion tokens that are in existence (slightly less in circulation), the more people adopt, the scarcer the token gets. Complementing the deflationary nature is the 2% transactional burn fee. Every time the UNBNK is transferred, bought, or sold, 2% of the tokens are burnt permanently. This also applies to using UNBNK through the VISA debit card.

Secondly, there is further crunch through the staking mechanism, which means more UNBNK are taken out of active circulation every time a car holder decides to stake their tokens. The cardholders are rewarded for the stake, with cash-back whenever they use their card. The rewards range from 1% to 6%, depending on the amount of staked UNBNK.

Whitelabel Card Services

Unlike many crypto debit card services, Unbanked creates a sustainable business model that has helped position it as the underlying provider for several high-profile crypto card service platforms. The Unbanked is a program manager for both VISA and Mastercard, allowing it to give debit card services to other platforms.

High-profile corporate clients include AMEX (with its first-ever NFT card), Litecoin Foundation, Stacks, Nexo, and StormX, to name a few. As the base provider, Unbanked enjoys a sustainable business model that ties into its retail services, helping it expand its operations without over-extending itself.

Recognitions and Compliance

The Unbanked platform has been the winner of several awards and recognitions. This includes a vote of confidence by Keni O’Leary as a winner of Shark Pitch and being included in the top 10% of the Inc. 5000 list of fastest-growing companies in the United States.

While being recognized for innovative services is one thing, compliance with regulatory authorities is also paramount. Operating since 2018, Unbanked is an SEC-registered entity that meets all the regulatory requirements and offers its users an FDIC-compliant bank account too.

With a focus on financial inclusion by speeding up crypto on-ramping, Unbanked has been able to create crypto-friendly services with a touch of traditional financial environment that offers the ease of fiat spending, but with the financial power of cryptocurrencies.

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