Cryptocurrency Debit Card Rolled Out By Blockchain Startup Terniobr>
Blockchain startup Ternio has rolled out a new debit card that enables card holders to spend the value of their cryptocurrency.
Founded in 2017, Ternio has been focused on building a highly scalable blockchain framework that is capable of supporting the high QPS (queries per second) of programmatic advertising. The company claims that its Lexicon blockchain is capable of supporting over 1 million transactions per second.
Ternio’s first product is a cryptocurrency debit card, called BlockCard, that allows card holders to spend their cryptocurrency holdings with the same ease as traditional credit cards. BlockCard can be used online or in physical store locations, anywhere in the world where major credit cards are accepted.
“Ternio’s goal is to accelerate the use of blockchain and cryptocurrency into everyday life,” said Ian Kane, COO & Founder of Ternio. “BlockCard enables the card holder to gain real utility from their cryptocurrency and removes the notion that crypto is only a speculative asset.”
Currently, the crypto debit card supports four cryptocurrencies – bitcoin (BTC), ethereum (ETH), Stellar Lumens (XLM) and Ternio (TERN), with plans to add more cryptocurrencies throughout the year. Users will have the option to select between a virtual or physical card. Those who want a physical card can also select between a plastic or a metal version of the card.
“We want to give consumers the option on which digital asset they use to fund their BlockCard account,” said Daniel Gouldman, CEO and Founder of Ternio. “Card holders decide if they want to buy a bagel with their bitcoin or a latte with their Stellar Lumens. Most importantly, these transactions occur on digital asset exchanges, which helps to propel the crypto community.”