The Xapo Debit Card Makes Paying with Bitcoins Much Easier
Laura McQuarrie — April 28, 2014 — Lifestyle
Xapo is a Bitcoin wallet and storage system for the digital currency that hopes to bring Bitcoins more into the mainstream with a debit card. The new currency seems to have people on the fence and even if you're a huge proponent of Bitcoins, a lot of places simply don't accept them as a legitimate type of payment yet.
The Xapo Debit Card is made to work just like a regular credit card, even if a store doesn't accept Bitcoins as a kind of payment. As it stands, Xapo's Bitcoin Debit Card is not affiliated with MasterCard, but Xapo is working to establish a formal partnership through a partner bank, which would make Bitcoins accepted anywhere a MasterCard is.
The Xapo Debit Card is made to work just like a regular credit card, even if a store doesn't accept Bitcoins as a kind of payment. As it stands, Xapo's Bitcoin Debit Card is not affiliated with MasterCard, but Xapo is working to establish a formal partnership through a partner bank, which would make Bitcoins accepted anywhere a MasterCard is.
Trend Themes
1. Cryptocurrency Debit Cards - The rise of cryptocurrency debit cards provides an opportunity for disruptive innovation in the payment industry.
2. Mainstream Adoption of Bitcoins - The emergence of Bitcoin debit cards could lead to a disruptive innovation in the financial industry by driving the mainstream adoption of Bitcoins.
3. Partnerships with Traditional Banks - The partnership between Xapo and a traditional bank to establish a formal partnership could lead to disruptive innovation in the cryptocurrency industry and increase trust in the use of digital currencies.
Industry Implications
1. Financial Services - The emergence of cryptocurrency debit cards could disrupt the traditional financial services industry by providing an alternative payment method.
2. Retail - Retail businesses could benefit from disruptive innovation opportunities by accepting cryptocurrency payments through debit cards.
3. Cryptocurrency Wallets - The emergence of cryptocurrency debit cards could disrupt traditional cryptocurrency wallets and storage systems by providing a more convenient and accessible way to spend digital currencies.
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