Residents of the European Union will be able to spend crypto assets directly through the WhiteBit Nova card. The card, issued in partnership with VISA, will grant 10% cashback as a standard feature for all users. 

WhiteBit, one of the leading centralized crypto exchanges on the EU market, partnered with VISA to launch its own branded debit card. The card enables crypto transactions with cash benefits for all users. The WhiteBit Nova card will allow all holders to also spend their digital assets as needed, while earning rewards. 

“The WhiteBIT Nova card is a major step in making cryptocurrency a practical choice for everyday transactions, particularly in Europe, a key market for our growth. This card not only enhances accessibility but also offers a more inclusive and rewarding financial future for all users,” said Volodymyr Nosov, CEO of WhiteBit.

The exchange has chosen Wallester AS as its card issuer, under the authorization of the Estonian Financial Supervision and Resolution Authority. Wallester is a registered payment institution. 

WhiteBit Nova offers spending for a portfolio of established crypto assets

According to the announcement, the VISA debit card will have zero opening and closing fees, and users don’t have to pay an initial deposit for activation. There is no upfront commitment to using the card. Users can choose between a digital card and a plastic version with additional spending limits and ATM access. Plastic cards will incur an additional fee of 10 EUR.

The card will automatically integrate with ApplePay.

WhiteBit Nova will support a range of well-established cryptocurrencies, especially the EU-approved USDC. The card will not carry USDT, which has been phased out in the Eurozone due to MiCA regulations. WhiteBit Nova will allow spending against BTC, ETH, XRP, SOL, NEAR, ADA, AVAX, WBT, and DOGE. It noted that it will not include newer tokens, memes, or other more volatile assets. 

Cashback will be a standard feature for all users, paid in BTC or WhiteBit Coin (WBT). Different categories will receive their own level of cashback, including 1% for groceries, 3% for restaurants, medicine, and taxi services, 5% for pet supplies, and 10% for subscriptions.

Users can select up to three categories to maximize cashback rewards. Additional rewards will come from referrals, with a maximum bonus of 50 USDC.

All EU residents are eligible for the cards, which are accessible through the WhiteBit platform. The card is available for verified users, with a daily spending limit of 10,000 EUR equivalent and a monthly limit of 25,000 EUR.

WhiteBit is one of the first European exchanges, established in 2018 in Ukraine. The CEX uses favorable regulations in Estonia to expand its services to the Euro area. The exchange carries more than 600 trading pairs for 300 coins and tokens, including 9 fiat currencies. WhiteBit carries more than $12B in reported daily trading volumes.

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Source: https://www.cryptopolitan.com/whitebit-visa-crypto-debit-card-cashback/