The bitcoin exchange, BitStamp plans to launch a bitcoin debit card. The founder of the exchange, Nejc Kodrich announced the step on Twitter. There will be a special offer for the first group of users to sign up, states Kodric:
“We are about to launch a new feature - @bitstamp prepaid debit cards! Order yours, first 100 users will get it for free.”
Kodric did not announce the launch date or name the bank that agreed to work with BitStamp on this project.
BitStamp is one of the top 10 bitcoin exchanges in the world. At the end of 2014, almost 8% of all bitcoin exchange operations in the world happened at BitStamp. At the beginning of the year, hackers launched successful attacks against BitStamp and it lost a portion of the market. According to Bitcoinity.org, the current market share is about 4% - this is 5 times less than the share of Huobi. In “bitcoin card” sector BitStamp will have to face many competitors. In the spring of 2015, several bitcoin projects announced plans to launch debit cards. On 15 May, the bitcoin exchange, Bit-x introduced MasterCard denominated in bitcoin. MasterCard has not commented on the matter yet. The bank card became the main product that the bitcoin exchange advertised on its main page. The bitcoin exchange, CCEDK plans to launch Bitcoin-denominated debit MasterCard in June. To distinguish it from other products, authors called it NanoCard. Representatives of Bit-x informed CoinFox that CCEDK and Bit-x are partners, so the planned launches are two versions of the same card not two different cards. The real pioneer in this sector of bitcoin market is Xapo. This startup began providing bank cards nominated in bitcoin around a year ago. In the summer of 2014, a group of experienced entrepreneurs, including a PayPal co-founder Max Levchin, invested $20 million in Xapo. Recently the company formed an advisory board that includes a founder of Visa. At the same time Xapo is not a bitcoin exchange.