Xapo says its Bitcoin debit card will start rolling out by the end of June, and it will be accepted anywhere by using the rails of a card network, interchange fees included.
"While some Bitcoin enthusiasts may want to see the cryptocurrency go mainstream, many others feel that routing Bitcoin transactions through a credit card network defeats the purpose of using Bitcoin," says Nathalie Reinelt, retail banking analyst at the Aite Group. But this could be the least of Xapo's challenges in launching a Bitcoin debit card. To offer a debit card, Xapo will need to go through a meticulous screening process from its bank partner to make sure it abides by its requirements those of its card network, says Madeline Aufseeser, senior analyst in retail banking at the Aite Group.
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