Ternio, a blockchain firm, has unveiled plans to lower the minimum balance requirements for BlockCard crypto debit card by 90%.
Earlier, the minimum balance limit for users of the card was $100. This limit has now been lowered to $10.
Go deeper with GlobalData
The move will be implemented immediately. The card enables users to pay with virtual currencies anywhere VISA is accepted.
“These reduced fees will lower the entry point for many cryptocurrency enthusiasts,” the firm said.
Users of BlockCard can spend their cryptocurrency’s value as traditional credit cards at more than 50 million merchants across the globe.
They can fund the card with 13 virtual currencies. These currencies include Bitcoin, Litecoin, XRP, Basic Attention Token, as well as Stellar Lumens.
Cardholders can make cash withdrawals from ATMs along with P2P transfers.
At the same time, they can make deposits at retailers Walmart, CVS, and 7-11, among others.
Ternio rolled out BlockCard in the US in January last year.
Commenting on the latest move, Ternio GM Keith Johnson said: “Our customers are important to us and their feedback goes a long way in shaping the future of BlockCard.
“One of the biggest requests we received was to lower the minimum balance to use BlockCard, so we did. When our customers speak, we listen.”
