SINGAPORE, Oct. 30, 2024 (GLOBE NEWSWIRE) -- MELD, crypto native Neobank has announced Crypto native Debit cards. MELD has completed a partnership with a licensed Mastercard provider to bring Debit Cards to European customers of MELD. The new MELD cards will begin issuing in Q1 of 2025 expanding on MELD fiat anc crypto offering.
With the addition of the MELD debit card, Neobank users will have fiat accounts connected to a non-custodial crypto wallet giving users the ability to on and off ramp more than 30 currencies and use their MELD card in millions of locations around the world. This is MELD's next step in becoming a full fledged financial service provider for crypto users and businesses.
The MELD card will be a part of the premium accounts offered by the MELD Neobank that include very low on and off ramp fees of 0.01%+1€. When you connect this card to MELD lending and borrowing protocol you see the vision of a holistic DeFi meets TradFi solution coming into view.
MELD’s fiat and on/off ramp solution is available in 160 countries and will support more than 35 currencies when the cards go live. Add to this dedicated IBAN accounts supporting many main currencies like USD, GBP, CHF, SGD and JPY the MELD offering will cover most crypto users' banking needs while not treating them like criminals.
Debit with Benefits
The MELD debit card is not a normal card. MELD will be connecting the debit card to lending and borrowing to create a type of line of credit but the line of credit will generate a yield for you when not using it. MELD calls this a genius loan and its feature in their borrowing protocol that will be extended to debit cards.
Native Yield
MELD has innovated in the yield earned when supplying. MELD is a cross chain protocol so you can use assets on several major blockchains like Ethereum, Avalanche and Cardano. When you use these assets in the MELD protocol they will earn a native yield (or risk free rate). The way MELD does this is by putting bridged assets to work by staking them on their respective chains and bringing the yield to MELD via lending and borrowing. In this way MELD is bringing native yield to its ecosystem and users reap the benefits.
DeFi meets Neobank
MELD is bringing together their Neobank services like debit cards with their lending and borrowing to realize the vision of traditional finance melded with decentralized finance in one seamless offering. Bringing the best of both worlds together for users around the world. Where a user can have a normal bank account but also use DeFi to unlock liquidity in their crypto investments. With this new offering MELD is bringing powerful financial tools to the masses, where they have historically been reserved for wealthy individuals and corporations.
About MELD
MELD is a crypto native global neobank powered by the blockchain. Bringing fiat currencies like (30+ including USD and EUR) and crypto currencies (1000+ including BTC and ETH) together in one seamless wallet supporting more than 150 countries. MELD makes it easy to navigate between these two worlds and get the best out of both. From generating a yield on your crypto to debit cards and business accounts, MELD brings fundamental banking services to everyone.
The MELD blockchain powers more than just the MELD Neobank, with a non-custodial lending and borrowing protocol and more than 30 businesses building on MELD. Users interact with all of this through the MELD web and Mobile apps helping people and businesses take full advantage of both their crypto assets and fiat assets.
You can follow the project and stay up to date with its development at these links: Website | X (Twitter) | Telegram |
Contact:
press@meld.com
Disclaimer: This content is provided by MELD. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/30ac8785-2176-4630-b413-7025e89b1c2c
https://www.globenewswire.com/NewsRoom/AttachmentNg/b294abb8-5473-4eb9-b53d-5e570a401adb
