Spend Visa Expansion Allows Canadians To Use Crypto Like Debit Card

FinTech Spend has announced it has expanded its Spend Visa Card to Canada where cryptocurrency users can use crypto like a debit card anywhere that Visa is accepted, according to a press release.

Users who sign up for the Spend Wallet can load all their crypto into it, and have it directly linked to the Spend Visa Card. When a customer swipes the card, the crypto immediately gets converted into the local fiat tender.

It’s the first time a product like this has been available in Canada, Spend said, adding that unlike regular crypto wallets which make the user sell the assets to use funds, there’s nothing additional a customer needs to do.

The Spend Visa Card was released in the U.S. earlier in the year.

“We are thrilled to be the first to market in Canada for such an exciting offering,” said Bryan Woods, president of Spend. “Never before has a company created and executed the technology to be able to spend cryptocurrency assets the same way as cash. We are the only company that allows users to spend without first having to sell their assets. All of the hard work happens behind the scenes, giving a seamless user experience.”

There are three different cards, and each one has a different daily spending limit. The first one is called Spend Simple. It’s the introductory card and has a $500 daily limit. The Spend Preferred has a $5,000 limit, and the Spend Black has a $10,000 limit and an optional metal finish.

The Spend Wallet is made for multiple currencies and has some services built right into the platform. The app lets users buy and sell virtual currencies with a bank account that’s linked to it, and it also lets users send money to more than 180 countries around the world. There are plans for users to be able to exchange fiat currencies as well.