TenX has shown off the latest functionality of its OneBit cryptocurrency debit card, which will allow users to make payments using cryptocurrency at over 20 million outlets in over 200 countries.
TenX co-founder Julian Hosp made the announcement in a TenX TV broadcast.
The OneBit card allows users to deposit Bitcoin, Ether, and other currencies into a secure wallet. The wallet is linked to the user’s OneBit card and will be regulated by an iOS or Android app.
Ether is the cryptocurrency used to interact with the Ethereum blockchain, and is currently the second-largest cryptocurrency in the world – behind Bitcoin.
Paying with OneBit
When paying with the OneBit card, the cryptocurrency is automatically converted into the currency required by the point of sale.
By maintaining a cryptocurrency balance in their linked wallet, the value of the user’s holdings will be tied to the real-time value of Bitcoin and Ether.
Hosp noted that if the value of Ether continues to improve, users will benefit from its greater value by holding the cryptocurrency in their TenX wallet.
The OneBit card is currently being tested in Singapore.
The TenX video below details how the OneBit card can be used to purchase a cup of coffee with Ether.