Introduction of PayProtocol’s Mastercard Debit Card
PayProtocol, the driving force behind Paycoin, has announced an upcoming launch of its Mastercard-branded debit card, slated for April 30. In a recent post on its Medium platform dated April 14, the company outlined plans to facilitate transactions in cryptocurrency, enabling users to load funds onto the card and make purchases at any Mastercard-affiliated merchant worldwide.
Card Features and Functionality
This card will be introduced in collaboration with SR Saphirstein AG, a Swiss neobank, and will support various digital currencies, including Paycoin (PCI), Ethereum (ETH), and USD Coin (USDC).
Users will benefit from a structured monthly top-up limit of 1,000 Swiss Francs, allowing both online and in-store payments while enjoying compatibility with Apple Pay and Google Pay.
A significant highlight of the card is its self-custody feature, which offers users complete control over their funds while seamlessly integrating with Mastercard’s extensive global payment framework.
Geographical Availability and Future Plans
Initially, the card will debut in the European Union and regions associated with the European Free Trade Association, with future intentions to broaden its availability to other countries and enhance cryptocurrency support.
Impact on Paycoin’s Market Presence
Since Paycoin was recently listed on the Uniswap platform via the Arbitrum bridge, its market liquidity has seen considerable improvement. With its foothold strengthening within the decentralized finance realm, PCI is increasingly being recognized as a suitable asset for real-time settlements in various payment models due to its rapid transaction speed and cost-effective fee structure.
In South Korea, Paycoin has gained significant traction, being accepted by over 10,000 retailers, including popular chains like 7-Eleven, Domino’s Pizza, and KFC. The introduction of the Mastercard is expected to elevate Paycoin’s global reach, beginning with its European target.
Market Reaction and Future Prospects
Following the announcement, Paycoin’s value surged by 5.7%, and trading volume experienced a staggering 900% increase, reaching approximately $7.8 million, according to data from Coingecko.
Despite currently being ranked 512th with a market capitalization of $70 million, the launch of this Mastercard could potentially mark a significant milestone for wider adoption, particularly as the token remains over 98% below its all-time high.
