Crypto exchange Edge announced a no- KYC debit Mastercard that can be funded with Bitcoin and other digital currencies.
Without KYC verification, users would be able to spend their crypto at more than 10 million merchant terminals in the United States. Currently, one can fund the Edge Mastercard using Bitcoin, Bitcoin Cash, Dogecoin, Litecoin and Dash directly from the Edge app.
Representatives at Edge say that the card is compliant with Anti-Money Laundering and Counter-Terrorism Financing regulations because of a $1,000 daily spending limit on the card .Inaddition, the card is only available for use at U.S. merchant terminals.
Edge claimed that there are no fees charged on its new Mastercard. When users sell their BTC to add funds, the company uses spot exchange rates from third-party sites such as Coinmarketcap with no margin taken. The Edge Mastercard will be issued by Patriot Bank under license by Mastercard International, and powered by fintech company Ionia.
