Finacash, a leading financial solutions provider, has launched a new prepaid card that allows users to spend cryptocurrency directly from any Web3 wallet without requiring identity verification for balances under $10,000.
The Finacash Prepaid Card offers a seamless way for crypto-native consumers to make everyday purchases, shop online, and manage expenses while maintaining privacy.
The prepaid card functions similarly to traditional debit and credit cards, enabling users to load funds onto it and spend them without needing a bank account or a credit check. It is accepted globally at locations where Visa or Mastercard is supported, making it a versatile financial tool for individuals looking to integrate crypto into their daily spending.
Finacash has designed the card with security and user convenience in mind, incorporating encryption and fraud protection measures to safeguard transactions. Users can also track their spending and receive real-time notifications through the Finacash mobile app. The company has emphasized transparency, ensuring the card has no hidden fees or annual charges. Customers can also set their spending limits to manage their finances better.
Finacash CEO Noach M highlighted the company’s vision for the prepaid card, stating that it provides a secure and flexible financial solution for modern consumers.
“Our goal is to empower individuals with a financial tool that provides ease of use, global accessibility, and the ability to manage funds without the need for traditional banking services,”
he said.
Finacash’s launch comes at a time when regulatory scrutiny on crypto exchanges is intensifying. Upbit, a leading virtual asset exchange in South Korea, faces potential suspension for alleged non-compliance with AML regulations and breaches of KYC requirements. The Financial Services Commission (FSC) and the Financial Intelligence Unit (FIU) issued a preliminary notice regarding sanctions against Upbit for violations of the Specific Financial Transaction Information Act. If penalties are finalized, Upbit may face restrictions on new customer onboarding and external virtual asset transfers for six months.
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