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- At the outset, it will be promoted in the UK, the European Union, and the European Economic Area.
- Gnosis Pay is the outcome of a collaboration between Gnosis and the payment processor SaltPay.
Leading the blockchain sector, Gnosis has unveiled Gnosis Pay and Gnosis Card, the first fully decentralized payment system and self-custody debit card. This announcement was made during the largest annual European Ethereum event, The Ethereum Community Conference (EthCC), lasting four days.
Utilizing a Visa-certified consumer debit card that connects to an on-chain self-custodial wallet, Gnosis introduces Gnosis Pay and Gnosis Card on its Ethereum-based sidechain, marking a pioneering integration of decentralized payment systems with traditional processors.
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Initially, it will be promoted in the United Kingdom, the European Union, and the European Economic Area. The United States, Brazil, Mexico, Singapore, and Hong Kong are also included in the expansion plans for Q4. This innovative service differentiates itself from other Web3 payment cards and is anticipated to enhance cryptocurrency adoption.
These groundbreaking services enable users to transact online using stablecoins alongside the Visa payment network. Functioning as a layer 2 solution on the chain, Gnosis Pay results from the collaboration between Gnosis and SaltPay.
Upon its launch, the Gnosis Card will support EURe, a stablecoin pegged to the Euro. The team behind Gnosis Pay is diligently working on integrating support for MakerDAO’s decentralized stablecoin, DAI. Initially, Gnosis Pay will offer a physical card and a web application, with a mobile app currently under development. The $30 registration fee for EURe marks the dawn of a new era in cryptocurrency transactions, thereby fostering increased adoption.
Even after Gnosis’s separation from Safe in July, both companies continue to maintain a strong connection, as evidenced by the inclusion of Safe wallets in Gnosis’s latest product offerings.
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