European crypto exchange Lama announced the launch of its Visa cards, enabling users to spend their crypto assets anywhere and convert them to fiat instantly.
According to a press release sent to CryptoPotato, the cards will benefit users in several ways, including a 2% bitcoin (BTC) cashback on all purchases for the highest plan.
Lama Rolls Out Crypto Visa Cards
The Visa cards have three subscription plans modified to meet users’ needs. The first, the Bronze card, is a free plan that gives users access to a single virtual card for spending online. The second, the Silver plan, worth €9.99 ($10.80) per month, allows for three virtual cards, one physical card, and 1% BTC cashback on all purchases.
The third and highest, the Gold plan, is worth €19.99 ($21.60) per month. It gives Lama users access to up to five virtual cards, one physical card, and a 2% BTC cashback on all purchases.
Commenting on the launch, Brigham Santos, Head of Operations at Lama, said:
“The Lama Visa card is an essential tool for anyone looking to make the most of their crypto assets. By using Lama Visa cards, users will easily convert and spend their digital currency at millions of merchants worldwide. This makes crypto tangible and accessible, allowing users to fully participate in the global economy.”
With the Lama-branded Visa Cards, users can spend crypto and euros at any online or physical store that accepts Visa payments. They can also easily convert their digital currencies on any platform worldwide.
Combining DeFi with TradFi
Lama’s admittance into Visa’s card program, which extends to 50 leading crypto trading platforms, is proof of the exchange’s adherence to compliance policies that meet all regulatory requirements.
The regulated crypto exchange, launched in 2022, combines traditional financial (TradFi) services with decentralized finance (DeFi) and crypto trading. The company has rolled out several innovative products that eliminate the need for third-party platforms by providing a direct link between its banking accounts and digital crypto wallets.
“The Lama Visa card makes cryptocurrency easier to spend in everyday life and provides consumers with a simple means of swapping between fiat and crypto. As a result, users can enjoy the best of both worlds: the upside to holding digital assets, coupled with the surety of knowing that they can access their funds instantly when they need to make an everyday payment,” Lama said.
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