Ternio’s Crypto Debit Card To Operate On VISA Payment Network For US Residents

Announcements, News | April 25, 2019 By:

Blockchain startup Ternio has announced that its cryptocurrency debit card will operate on the VISA payment network for United States residents.

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 patent-pending Lexicon framework is the only scalable blockchain framework capable of supporting over one million transactions per second, fully decentralized and on-chain.

In January of this year, the company launched its first product, BlockCard, a cryptocurrency debit card that allows card holders to spend their cryptocurrency holdings with the same ease as traditional credit cards. It supports multiple cryptocurrencies including, bitcoin (BTC), ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Stellar Lumens (XLM) and Ternio (TERN). Consumers holding those cryptocurrencies can deposit them in their BlockCard account at GetBlockCard.com. They will also have the option to select between a virtual card, plastic card, or metal card. The BlockCard Visa pre-paid debit card will be issued by Metropolitan Commercial Bank, pursuant to a license from Visa U.S.A. Inc.

“When BlockCard is used, the processing transactions are facilitated via a crypto exchange,” Ternio said. “Alternatives limit the consumer by converting their crypto value to Fiat money prior to the point of sale and placing a stagnate value on a card.”

Daniel Gouldman, CEO of Ternio, said that millions of people hold cryptocurrency, but until today there was not an easy to use option for them to quickly and efficiently spend the value of their crypto.

“Ternio’s BlockCard account is a paradigm shift for the crypto ecosystem – enabling anyone to quickly sign up, fund their account, and keep the value in crypto until the point of swiping their card with the merchant,” Gouldman said.