Two blockchain companies, Paymon and Cryptocean, have finalised a partnership to produce crypto debit cards.
Both companies are developing technology for the crypto industry. Paymon is focused on creating a new Hive blockchain system, which will allow users to transfer PMNC (Paymon Coin) without any commissions or delays. The company is also creating a universal infrastructure for working with cryptocurrency assets.
Cryptocean is developing technologies for transferring cryptocurrency into fiat money. The startup is creating a technological franchise that will allow any bank or FinTech project to enter the market with its own plastic card, wallet, and a set of services to meet its customers’ needs.
Both companies have achieved impressive results in 2018 so far. Paymon successfully conducted its ICO and will soon release the final version of their own blockchain. Cryptocean established a collaboration with a German bank on the cards issue.
“Not all projects manage to sign actual contracts with major market participants,” explained Paymon CEO, Semyon Gleim. “Therefore, for us, cooperation with Cryptocean is kind of a ‘window to Europe’, and we are a qualitative technical base for them.”
“Paymon has good technical experts on board, so we decided together to implement a pilot project to run our technological franchise. This is a win-win situation, when, on the one hand, a FinTech startup gets a turbine that speeds up its entry to the market and, on the other hand, it is another B2B client for us,” explained Yury Myshinsky, CEO of Cryptocean.
So, what are the card’s features? The Fiat card will be connected to the customer’s bank account as usual, but there will also be cryptocurrency operations available in addition to the standard fiat transactions, thanks to integration with the Paymon app and Cryptocean technologies. In the end, the client gets an incredibly interesting product – a card tied to their cryptocurrency account.