As such, SafePal of Singapore has invested in the Swiss Fiat24 Bank and together launched a cryptocurrency Visa card as well as banking services within the app, and using USDC as a designated deposit.
In the announcement yesterday (7/3), this feature will be available in version 4.5.0 of the SafePal mobile wallet, but it will have to wait for approval from the Apple App Store and Google Play.
Yang Lan, co-founder of Fiat24, stated: “Unlike regular Visa cards, online transactions on Arbitrum with USDC provide a transparent, immutable ledger with reversible error transactions – but error transactions can still be reversed with our banking system.”
Meanwhile, Veronica Wong, CEO and co-founder of SafePal, explained that after users create a mobile USDC wallet, funds can be sent to accounts at traditional financial institutions.
In addition, users can exchange cryptocurrencies on over 40 blockchains into their bank accounts and use fiat currency such as US dollars, euros, or Swiss francs for transactions and expenses.
