Monolith’s decentralized financial platform, which offers crypto-payment solutions, recently launched a Visa debit card to pay for goods in Europe. Thanks to its association with MakerDAO and Digix, this card will support payments via the stablecoins Dai and DGX, assets backed by gold.
A step closer to traditional finance
As it develops, Monolith offers a multitude of solutions to facilitate the use of crypto-currencies in the real world and traditional finance. Following its announcement, the new card will allow to buy goods under the cover of Visa (and especially in Europe) after being powered by cryptocurrencies.
Indeed, the platform has partnered with MakerDAO or Digix to power the card via Dai DGX ( of stablecoins backed gold) . Users will be able to send or receive money, pay their bills and buy their supplies in supermarkets from the universal support.
Cryptocurrency, towards widespread adoption
Although Monolith’s Visa debit card only covers the European market, it already reveals the potential of crypto-currencies as an economic exchange value. As Rune Christensen, the CEO of MakerDAO explained:
“The Monolith solution offers cryptocurrency holders a powerful way to extend the usefulness of their crypto-assets. Their maps create a critical bridge between the world of DeFi (decentralized finance) and the more traditional world of retail “.
For his part, the Monolith boss emphasized the advantage of crypto-currencies against traditional currencies.
“More and more, people are fed up with banks and companies like Facebook, which place a high value on their personal information and privacy. Monolith allows users to regain control, “he explains.
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