Chain2Pay has said that it will launch a cryptocurrency debit card over the coming months.

The company will make the cards for MinexSystems’ another subsidiary MinexPay.

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The crypto debit card will work similar to a regular card. However, it will be based on crypto funds instead of a bank account.

The card can be availed at all merchants accepting Mastercard and/or Visa globally. It can be used for in-store as well as online transactions. It will also support ATM withdrawals.

MinexSystems crypto debit card capabilities

The crypto debit card will be available in Standard, Gold, Platinum and Infinite variants. The Standard card will have a 2% withdrawal fee for the company’s currency Minexcoin. Furthermore it will have a 4% for others types of digital currencies.

The cards can be reloaded at any time through mobile application or website.

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Minexsystems CEO Boris Shulyev said: “With MinexPay, payments can indeed be made anywhere in the world Visa or Mastercard cards are accepted, as they work the same way.

“The transaction speed is an average of three seconds, because the user does not need to wait for the crypto to exchange to fiat through the exchange. The fund provides that step in advance, so a fiat equivalent is ready to use on demand.”

The company added that the cards can also be used in countries where cryptocurrency is banned, as the exchange take places via the bank rather than a crypto exchange.