Edge, a San Diego-based self-custody exchange, on Wednesday launched Edge Mastercard, that enables crypto holders to spend with digital currencies such as Bitcoin, Bitcoin Cash, Dogecoin, Litecoin, and Dash from its application.
Edge Mastercard users sell their Bitcoin to the card when adding funds in the app, while merchants receive funds in USD.
Edge is a self-custody exchange that supports the most popular cryptocurrencies on the market. Formerly known as Airbitz, the company was founded in 2014 as a Bitcoin-only wallet.
Users register their cards inside the Edge app to start spending, without having to add personal information or pay any fees. The card, powered by Ionia, a fintech and savings platform, connects with mobile pay services Apple Pay, Samsung Pay, or Google Pay.
Top ups to the Edge Mastercard are instant, allowing users to spend their balance immediately without waiting for confirmations or bank transfers.
“Using the Edge Mastercard does not require you to compromise your privacy, as other programs do. There is no name or address associated with your Edge Mastercard, making for completely private transactions when your card is used,” the website said.
In the initial roll-out, the card will enable spending at more than 10 million merchants in the United States and users can spend the equivalent of up to $1,000 per day.
“I can’t be more excited for the launch of the Edge Mastercard,” said Paul Puey, co-founder of Edge.
“Bitcoin users will finally be able to privately spend at thousands of merchants around the US without compromising ANY personal informaton, and without fees or delays to top up their card,” he added.
“Bitcoin, BitcoinCash, Dash, Doge and Litecoin users will finally be able to spend their currencies at Mastercard accepting merchants in the US,” he added.
Edge uses official spot exchange rates provided by platforms such as Coinmarketcap, a price-tracking website for digital assets, with no margin taken on exchange rates.