A cryptocurrency card based on Cardano’s blockchain has just been released to the market in South Korea. In order to power this new card, the commercial development branch behind Cardano (ADA), has signed a partnership with Metaps. In this way, 33,000 new merchants will be able to accept this card.
Cardano Expands With A New Card
Cardano is expanding in the virtual currency market. This time, Emurgo has partnered with Metaps and created Metaps Plus, the platform in charge of powering this card. With the latest decision to release it in South Korea, over 33,000 merchants will be accepting the card. Among the stores, we can mention GS25 or Emart24.
There are already more than 200 pre-orders for the physical cards. The current denominations available are 100 ADA and 1,000 ADA coins. In order to buy the ADA card, it is necessary for users to log onto Metaps+ crypto card website and complete a KYC process.
Metaps Plus CEO, Seungyeon Kim, said that they want to provide a practical application for cryptocurrencies.
On the matter, he commented:
“EMURGO was the only partner ready with deep understanding into offline payment integration and strategic focus to provide a practical application for cryptocurrencies. We plan to develop this product further to ensure we have solid use cases for broader offline adoption with Korean online and offline merchants.”
Emurgo’s CEO, Ken Kodama, said that people will be able to make purchases via a mobile app. Furthermore, he mentioned that users will also to charge ADA onto a crypto card and physically hold their ADA in their hands. The main intention is to help spread the adoption of this specific new method of payment.
IOHK has also announced two new smart contracts tool for Cardano a few days ago. These implementations are known as Plutus and Marlowe and were launched as a test.
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Cardano is the 11th largest virtual currency with a market cap of almost $800 million. Each ADA coin can be purchased for $0.03. In the past, the ADA virtual currency was a top 10 coin. However, due to the bear market, it has lost its position against Tron (TRX).
Cardano is a high-profile project. To learn the latest, check UseTheBitcoin for breaking and important Cardano news and analysis like how Michael Parsons’s departure might affect the project, or founder Charles Hoskinson’s project updates. Also check why eToro said Cardano is among the most exciting projects in crypto.
Interested in investing in ADA? Do your own research first. And then check out our ADA Price Prediction article. You can learn how to buy ADA on Binance using our guide, and how to store Cardano tokens in a new wallet.
