BitOasis, the UAE-based cryptocurrency exchange, to launch Mastercard debit card

The UAE-based cryptocurrency exchange BitOasis has struck a deal with payments giant Mastercard to issue a crypto-linked debit card tied to accounts in 2023.

We’re pleased to announce a new partnership with @Mastercard to launch crypto-linked cards!
The new payment method will accelerate #crypto adoption in the region and enable you to make payments at over 90 million merchants across Mastercard’s network! pic.twitter.com/ZXW7Lm94Dk

— BitOasis (@bitoasis) October 25, 2022

BitOasis customers will be able to order both physical and virtual cards. They will be able to pay at 90 million merchants worldwide.

Settlements will be in fiat through cryptocurrency conversion. Regarding cards, the provisions on dispute resolution and refunds will apply, which do not apply when paying with digital assets.

Earlier in September, the Spanish-licensed trading platform EurocoinPay agreed with Mastercard to issue a cryptocurrency debit card. Before that — Nexo, Gemini, CoinJar, Amber Group and Bitkub.

In January, the crypto exchange FTX announced the launch of a Visa debit card and opened a waitlist. Similar statements were made by online broker Robinhood and hardware-wallet maker Ledger .

Visa had previously approved the launch of such a payment solution by several companies, including Binance , Bakkt , BlockFi and CryptoSpend .

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