Specially issued crypto debit cards have long been a popular product for the industry, allowing purchase of debit cards which can then be topped up with Bitcoin and then spent at thousands of credit card accepting merchants worldwide.
The launch of crypto cash out functionality with Simplex gives users the same benefits as a crypto debit card but allows them to use their existing credit cards and reap the benefits of established reward points or mileage programs.
“We’re thrilled to expand our long standing partnership with Edge and start enabling users to cash out of crypto. One of the main concerns of mainstream new users is cashing out after they have bought in. We’re excited to start enabling this feature. We’re certain that this capability will increase crypto adoption by freeing users to do as they see fit.” – Nimrod Lehavi, Simplex CEO.
This new functionality is available in a beta release of Edge, for EU Visa card holders initially which users can sign up for at https://edge.app/beta. Simplex intends to expand this service to more users in more regions and more assets in the not too distant future.