Eidoo announced the launch of new VISA-based debit cards.
The Eidoo card had already been presented in March, but until now it was only possible to book it, and the circuit on which it would run was not yet known. It has now been revealed that it is a VISA debit card issued in cooperation with VISA Europe member Contis.
By using the Eidoo Card, users of the Eidoo non-custodial wallet will be able to transfer funds from the wallet to the card and use them in ordinary shops, online, or to withdraw cash from ATMs. The special feature is the automatic conversion from crypto to fiat that can be done directly on the wallet, to quickly fund the card account with euros or pounds sterling.
This way the funds always remain in the full control of the user, and the exchange operations are very fast thanks to atomic swaps and stablecoins based on smart contracts, issued by the British financial company Moneyfold.
The Chief Commercial Officer of Contis, Andy Patton, said:
“This new card proposition is very exciting. It represents an important step in the growth of decentralised finance. We’re delighted to partner with Eidoo as they continue to drive innovation, making cryptocurrency a practical financial solution in everyday life”.
The CEO of Eidoo, Thomas Bertani, commented:
“Everyone is anticipating the mainstream adoption of cryptocurrencies, yet there are few solutions which make these digital currencies practical or useful in our daily lives. We know the key is to bring together the worlds of traditional and decentralized finance; the Eidoo Card is that bridge between these two worlds. Collaboration between traditional systems and next-gen solutions is vital if we’re to build a strong and inclusive digital economy. We’re excited that Visa and Contis are supportive of such innovation, which will help push forward the inevitable transformation of the financial sector”.
Eidoo, the price of the token rises
Meanwhile, there has been a lot of news at Eidoo, which is probably why the price of the EDO token is rising.
In fact, in addition to having reached +2700 cards booked, with over 3 million EDO tokens burned, the company is preparing to announce a new token economy, which will somehow also integrate pTokens.
1/11 On the upcoming token economy upgrade of $EDO, a thread👇
It's time to uplift the game. @pTokens_io is joined by @eidoo_io in the race for decentralised, community-governed (DAO+staking) cross-chain composability. Let’s all welcome the https://t.co/MjO1yx9iPO 🦜
— Natale M. Ferrara 🦜 $PNT (@NataleFerrara) March 31, 2020
For these reasons, EDO is going through a particularly brilliant period and is going against the trend of the rest of the sector, registering an increase of 20%, ranking among the best of the day.
As our trader Federico Izzi pointed out:
“According to weekly data, EDO is up 120% from last Monday’s levels, reaching 165th place with just under $19 million in capitalization. Following the dangerous sinking on March 12th, EDO saw a flight of over 680% and therefore a 7-fold gain. This brings the price back to levels of February 2019.”
This is one of the top 10 overall performance among small capitalization cryptocurrencies, highlighting how the latest news is positively appreciated by the market and investors.
“Volumes remain low but above average in the first quarter of the year. In technical analysis, the outlook is good with the break of the 28 cents area, which could project the price into the 46 cents area. On the contrary, a break below 17 cents would start a first bearish signal with possible targets in the 13 cents area”.