Polkadot Powers Up with Visa Card for Worldwide Crypto Adoption

The Polkadot Community Foundation today announced its strategic proposal to partner with Visa for the launch of the official Polkadot co-branded payment card. This ambitious initiative, powered by CL (operated by Baanx), is set to deliver the world's first payment card designed to be owned by a Decentralized Autonomous Organization (DAO).

This innovative Polkadot x Visa payment card is a key strategic component of the Polkadot App, a soon-to-be-released beginner-focused digital wallet in the United States, designed to onboard newcomers to crypto. This card aims to be instrumental in onboarding non-crypto audiences by replacing traditional banking rails, making the world of crypto intuitive and seamless.

The Polkadot payment card is envisioned to be a global solution, with plans for issuance starting in the United States, United Kingdom and Europe with global acceptance wherever Visa is accepted. A cornerstone of its design is its non-custodial nature, ensuring users retain full control over their funds. From day one, the card will seamlessly integrate with Apple Pay and Google Pay for maximum convenience. Users will benefit from a transparent fee structure with no fees to hold or top up the card (excluding standard network gas fees), and a minimal usage fee of under 1% for transactions.

Notably, the origination, setup, and integration of this pioneering card program come at no cost to the Polkadot DAO. This commitment underscores the project's dedication to sustainable growth and community benefit.

Key Features of the Polkadot Payment Card

• The card can be denominated in USD, EUR and other currencies, making it an ideal choice for users across the globe.
• No top up or monthly fees and cashback in USDC
• Users can add the payment card to their Apple Pay or Google Pay wallets, allowing them to make contactless payments with ease wherever they are.
• The card can be used anywhere in over 150 million merchant locations worldwide, across the Visa network.1
• Users have the ability to view their transaction history directly through the app, enhancing financial management.
• The card comes with options to lock or freeze the card instantly via the mobile app, providing protection against unauthorized use.

"This proposed Polkadot and Visa card represents a pivotal moment for Polkadot and the broader Web3 movement," said the PCF's board of directors. "By delivering the world's first DAO-owned payment card, we are creating a seamless bridge between the decentralized economy and everyday spending, and showcasing the true power of Web3 innovation in mainstream finance."

The launch of the Polkadot Visa payment card is subject to contractual and legal review, reflecting the careful and compliant approach the Polkadot Community Foundation is taking to bring this revolutionary product to market. The proposal is currently up for vote by the DOT tokens holders. The Polkadot payment card is issued by CL, who have also released the World, Metamask and Ledger payment cards. For more information about the Polkadot payment card and how it can enhance your financial experience, please visit polkadot.com/app

This Polkadot Visa payment Card is a completely new and separate initiative from the Nova Wallet/Mercuryo Mastercard, and is operating on the Visa network.

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About PolkadotPolkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world’s most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, users are not just participants, they're co-creators with the power to shape its future.

Source

1. Visa Fact Sheet https://corporate.visa.com/content/dam/VCOM/corporate/documents/about-visa-factsheet.pdf