Key points to remember
- Unbanked today announced a new integration with Stacks that will allow users to spend STX tokens with their Unbanked debit cards.
- Users from four continents will now be able to use Stacks’ STX token to make purchases.
- The announcement was made at the Stacks Summit event in Miami, Florida, which coincides with the world’s largest Bitcoin conference.
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Unbanked today announced support for the Stacks network. Unbanked allows users to spend crypto from debit accounts and maintain the crypto balance up to the point of sale.
Unbanked integrates STX
Unbanked has announced new token support for its flagship debit card.
Additionally, Unbanked can be used to earn an 8% annual return, paid in Bitcoin, by holding Stacks in their “crypto-native bank account”, with the possibility that the funds are guaranteed by the Federal Deposit Insurance Corporation in the United States. United.
Unbanked has partnerships with leading companies in the traditional financial world, such as Visa and Mastercard. It has also integrated with Apple Pay, Google Pay and Samsung Pay, and supports various crypto assets (eg Bitcoin, Ethereum, Tether and UniSwap).
According to Unbanked Managing Director Daniel Gouldman:
“Stacks is one of the most innovative encryption protocols. We’ll connect by earning 8-10% Bitcoin returns on your balance with crypto debit cards in nearly 60 countries around the world. What we are doing together is the real realization of what crypto banking should look like for everyone.
Brittany Laughlin, executive director of the Stacks Foundation, said Crypto Briefing that there were already more than 200 registrations in the first hours after the announcement.
The non-bank BlockCard does not require conversion of crypto assets into fiat currency up to the point of sale. Therefore, unbanked users holding Stacks will be able to maintain their STX position until the time of purchase while retaining the potential to earn Bitcoin yield on their Stacks position.
Disclosure: At the time of writing this article, the author of this article owned BTC, ETH, and several other cryptocurrencies.
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