For Blockcard Account users who noticed recently that they can now activate their Blockcard bank accounts, a new feature has just gone live: Buying Bitcoin (BTC) and Ternio (TERN) directly with USD. BlockCard bank accounts now give customers a full on-ramp and off-ramp in or out of cryptocurrency and are the perfect complement to depositing or withdrawing to top cryptocurrency exchanges.
The release of Blockcard’s FDIC insured checking accounts is the latest in a lineup of crypto-friendly banking products and services. In addition to being able to fund their Blockcard debit cards for easy spending, users now have the option of purchasing Bitcoin and other cryptocurrencies directly from their Blockcard bank account.
BlockCard Bank Accounts empower users to instantly purchase BTC or TERN using their US Dollar account balance. Unlike alternatives, there is no waiting as funds are instantly deducted and the asset price is instantly locked in. The BlockCard platform evaluates numerous order books of top cryptocurrency exchanges in real-time to find the best rate for the customer. The purchased digital asset is then settled directly into the customer’s personal cryptocurrency wallets so they maintain custody of their asset.
“We always wanted to see an exchange feature on the Blockcard platform, and the new bank accounts are the perfect outlet to see that dream realized. And we’ve consolidated the process so that everything – from basic deposits and transfers, adding funds to a Blockcard for immediate spending power, even buying Bitcoin directly from a Blockcard bank account – can be done from the Blockcard dashboard. Our focus has always been to bring cryptocurrency and blockchain to the mainstream, and the bank account on-ramp is a key component of that.” -Ian Kane, Ternio Co-Founder and COO
Ternio has partnered with a US-based bank to develop this new crypto-friendly banking product. Account-holders will have the same security that traditional banks offer the flexibility of being able to buy and spend crypto without relying on ACH or wire transfers. Currently, bank accounts are available for US residents and free to open. International accounts aren’t far behind and will pair effortlessly with the highly anticipated European and Global Blockcard debit cards, poised for release this year. User funds are kept in USD and function like a traditional checking account allowing deposits and withdrawals; it functions as an easy on-ramp for crypto.
The Blockcard bank account is designed to function with the Blockcard debit card. Unlike other crypto debit cards, the Blockcard debit card is a two-way street, paved in crypto. Users can move funds into and out of the account either through a crypto wallet of the user’s choice or their new Blockcard bank accounts, which makes it easy to move from Fiat to crypto and back, as needed. And because these products are designed to seamlessly integrate, users won’t have to worry about their crypto transactions being flagged as “risky.” Additionally, users can look forward to the release of a mobile app and a custodial wallet in the coming months, another step in Ternio’s goal in building a comprehensive cryptocurrency fintech platform.
BlockCard allows people to buy what they want with crypto at over 50 million merchants worldwide. The BlockCard platform is more than just a crypto debit card. It’s an evolving suite of tools that makes it easier, faster, and more convenient for users to purchase cryptocurrency and use it in their daily life.
Today, the BlockCard debit card is the most efficient way to make a purchase with crypto or convert crypto to cash at ATMs. Within minutes a user can create a BlockCard account, deposit 12+ cryptocurrencies in 1 transaction, pass KYC, and immediately get a virtual card to use while a physical card is mailed to them.
Ternio is a global fintech platform built on blockchain. Ternio’s platform connects traditional enterprise, fintech, banking, systems with blockchain infrastructure giving real-world utility to digital assets. Our products, like BlockCard, enable instant remittance and the transfer of value on blockchain rails in a compliant and regulated environment. Visit the official Ternio portal for more details.