Note that cryptocurrency cards are nothing new in the blockchain world. For example, the next innovation in this category is the so-called CL Card from Ledger, which was announced in December 2021. It will allow investors, represented by users of Ledger’s hardware wallets, to safely spend their coins to pay for goods and services. Most importantly, cardholders will be able to receive a portion of their own salary on the card, as well as automatically transfer it to Bitcoin or Etherium if they wish.

How cryptocurrencies are becoming more popular

Details of the announcement were announced in an interview with Cointelegraph reporters by a Nexo spokesperson. Here’s his line in which he shares details about the new product.

The Nexo Card functions through Nexo credit lines backed by cryptocurrencies. This means that funds for purchases come from the available credit line, while the digital asset portfolio remains untouched.

In other words, no coins will be spent in this case. And that's a great reason to get in touch with such an instrument, even for those who have simply been hoarding cryptocurrency without any desire to use it.

Nexo card

According to the company, the Nexo Card credit line starts and stays at 0 per cent APR, and the product is the first of its kind Mastercard credit card backed by cryptocurrencies.

The card also requires no minimum payments and doesn’t charge a currency exchange fee of up to €20,000 or $21,700. Like traditional Mastercard credit cards, the Nexo Card is available in virtual and physical form with the ability to integrate Apple Pay and Google Pay.

Nexo expects the card to be accepted by the 92 million retail outlets around the world where Mastercard is accepted. This way Nexo Card holders will be able to pay for their purchases without having to convert or even directly spend their savings in cryptocurrencies right away.

Nexo card

According to Nexo’s representatives, the card is already available in “some European markets. So far, residents in 29 countries including Belgium, Cyprus, the Czech Republic, Finland, France, Germany, the UK and others can use it. Nexo co-founder and managing partner Antoni Trenchev stressed that the launch of the new product is crucial for the interaction between the existing financial system and digital assets. Here is his quote.

This unique product will allow millions of people – first in Europe and later around the world – to spend money instantly without giving up the potential of their cryptocurrencies, thereby giving them unprecedented daily utility for the emerging asset class.

And this is indeed the case, as investors will be able to use their own coins even if they were to simply be stored at an address for years.

Integration with cryptocurrencies – but already at the municipal level – could also take place in the small Argentine town of Sorradino in Santa Fe province. Earlier, the city’s mayor, Juan Pio Drovetta, announced the possibility of mining cryptocurrencies to finance local infrastructure projects. The mayor’s office has already allocated funds to buy six video cards, Cointelegraph reports. In doing so, it plans to assemble a full-fledged crypto-farm in the future.

Like many other small cities in Argentina, Sorradino has been hit hard by the COVID-19 pandemic and the resulting inflation. The mayor’s office, meanwhile, is struggling to pay for the upgrading of its railway infrastructure, which last year returned to service for the first time in 33 years.

Sorradino Mayor Juan Pio Drovetta

Drovetta estimates that the monthly income the crypto-farm will generate for the city will be in the order of several hundred dollars. The mayor did not specify what kind of coins would be mined in Sorradino. In his comments on the possible risks of crypto-asset price volatility, he stressed that while no direct purchase of cryptocurrencies is planned, mining remains a safe investment option.

We are not buying cryptocurrencies and we are not looking to make a profit on a speculative move that will result in us either winning or losing. We will be mining cryptocurrencies, so we will always be a winner.

If anything, we recommend mining cryptocurrencies at the 2Miners mining pool. You can even join it with just one video card - and it's really profitable today.

Cryptocurrency miner


We believe that this initiative will benefit the cryptocurrency industry. Thanks to it, even avid hoarders, who were going to keep digital assets for many years, will be able to use their coins. In addition, it will surely attract those who haven't interacted with coins before and will now see a lot of value in it.


What do you think about it? Share your opinion in our millionaires cryptochat. There we will talk about other topics related to the blockchain and decentralisation industry.