Safe

Ethereum

Fractal ID

Gnosis

Gnosis, an Ethereum sidechain, will allow consumers with crypto wallets to make online transactions utilizing stablecoins and Visa’s payment system. 
<h2 id="span-style-font-weight-400-debut-of-the-gnosis-card-span">Debut of the Gnosis Card</h2> 
In a press <a href="https://twitter.com/gnosispay/status/1680874992509272065?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1680874992509272065%7Ctwgr%5Efaaf1e7634f9a5b46cb12d4f83d45590d03d5b73%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F148844%2Fcrypto-wallet-provider-gnosis-launches-self-custodial-debit-card" rel="noopener noreferrer nofollow">statement</a> issued on Monday, the launch of Gnosis Pay and Gnosis Card, the first decentralized financial system to integrate with a conventional payment system and the first Visa-certified consumer debit card that is connected to an on-chain self-custodial wallet, was confirmed. 
The co-founder of the firm and chief technology officer of Gnosis Pay, Stefan George noted: “From a user experience point of view, it’s exactly the same experiences everyone’s used to but under the hood of using crypto to settle your payments.” 
<h3 id="span-style-font-weight-400-a-physical-card-and-a-web-app-span">A Physical Card and a Web App</h3> 
It is essential to understand that financial system will initially just include a physical card and a web app. An application for smartphones will be available “soon.”&nbsp; 
Furthermore, users’ wallets will function as bank accounts, and every card will have to be linked to the user’s Safe account. This product will first be accessible throughout EU and EEA nations, and also in the United Kingdom, with the possibility of expanding across the United States, Brazil, Mexico, Singapore, and <a href="https://thecoinrise.com/excitement-for-crypto-license-is-yet-to-translate-to-jobs-hong-kong-recruiters/" rel="noopener noreferrer nofollow">Hong Kong in Q4</a>. 
<h2 id="span-style-font-weight-400-different-from-web3-payments-span">Different from Web3 Payments</h2> 
Friederike Ernst, co-founder of Gnosis Chain and Gnosis Pay states: “It is different from Web3 payment cards because it is not prepaid. If you have a Binance card, you load your account with crypto and spend from that balance. With Gnosis Pay, you spend from your self-custodial wallet the moment you tap your card.” 
<h3 id="span-style-font-weight-400-the-gnosis-chain-span">The Gnosis Chain</h3> 
Notably, in order to enable the network to grow effectively, Gnosis Pay deploys a specially created layer-2 protocol over the existing Chain. As a result, the KYT and KYC information that Fractal has collected in order to meet the standards associated with a Visa off-ramp can be safely protected. 
In July of last year, the leading digital assets management system Safe, formerly referred to as Gnosis Safe, <a href="https://thecoinrise.com/gnosis-safe-rebrands-to-safe-secures-100m-in-a-funding-round/" rel="noopener noreferrer nofollow">raised $100 million in a fundraising round</a>. 
The post <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com/gnosis-debuts-debit-card-which-will-utilize-gnosis-pay/">Gnosis Debuts Debit Card which will Utilize Gnosis Pay</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Gnosis Debuts Debit Card which will Utilize Gnosis Pay

Table of Contents

TheCoinrise Media

Other articles published on Jul 20, 2023

Crypto Lender Celsius Battles Bankruptcy Amidst Billions in Claims

Dormant Ethereum (ETH) Address Wakes up From Eight Years of Inactivity

Tesla BTC Holdings Unchanged In 2023 Q2

Join the Crypto Revolution with Yuse: Your Ultimate Gateway to Crypto Investment

XRP Again Faces Centralised Issue as Ripple Regulatory Threat Declines

Trillions of Shiba Inu (SHIB) Moved From Binance US, Here's What's Happening

Join our free newsletter for daily crypto updates!