The former head of the Visa, mark O’brien, who worked in the company from 2008 to 2014, he began to collaborate with startup Crypterium, the purpose of which is to create service that allows you to use cryptocurrencies in daily household matters.
“It is rather difficult to use cryptocurrency in the daily payments. If you have applied to the stock exchange with your bitcoin or ether, the process output to a common Bank account may take from 3 to 7 days. And Crypterium will make the process simple and give the opportunity to use cryptocurrency in daily payments.”
The startup was registered in Estonia in 2017 and raised $52 million in ICO at the end of last year. The company wants to release a card that will support payments in crypto-currencies, and hopes to conclude a partnership with the Mastercard or Visa to launch its product this fall.
On the question of how the company plans to cope with the strong volatility of cryptocurrencies, O’brien refused to answer, saying only that “will not disclose the secret sauce”.
Maybe this startup will indeed be revolutionary and convenient, however, there are services that allow you to quickly convert cryptocurrency into Fiat money, there is some plastic cards.