Nexo, a Bulgarian decentralized lending platform, has introduced a cryptocurrency-powered debit and credit Mastercard for residents of the European Economic Area (EEA). The Nexo Card allows users to spend euro, U.S. dollar, and British pound stablecoins through debit transactions at over 100 million merchant terminals worldwide. It offers up to 9% annual interest on stored balances. For credit transactions, the card uses major cryptocurrencies like Bitcoin as collateral, providing up to 2% cashback and 16% annual interest on used credit lines. The card is available to EEA citizens and has no monthly or inactivity fees, offering several benefits like no foreign exchange fees for up to 20,000 euros per month and a 10,000 euro monthly ATM withdrawal limit.
