PayProtocol, the company behind Paycoin, has revealed plans to launch its own Mastercard-powered debit card on Apr. 30.
According to an Apr.14 announcement posted on the company’s Medium page, the card will allow users to top up with crypto and spend at Mastercard merchants globally. The card will be created in partnership with Swiss neobank SR Saphirstein AG and will support Paycoin’s token PCI, Ethereum (ETH), and USD Coin (USDC).
With a monthly top-up limit of 1,000 Swiss Francs, Paycoin Mastercard can be used for online and offline payments and is compatible with Apple Pay and Google Pay. The card’s self-custody structure is one of its key features. It gives users total control over their assets while enabling them to access Mastercard’s global payment network.
The card will initially be offered in the EU and European Free Trade Association regions, with plans to expand to additional countries and support more cryptocurrencies in the future. PayProtocol also noted that since PCI went public on Uniswap (UNI) via the Arbitrum (ARB) bridge, its liquidity has grown.
Now more firmly established in the decentralized finance ecosystem, PCI can serve as a real-time settlement asset in PayProtocol’s broader payment model due to its low fees and fast transactions.
Paycoin is already widely used in South Korea, where over 10,000 establishments, such as 7-Eleven, Domino’s Pizza, and KFC, accept PCI as payment. With the new Mastercard, the team is now attempting to increase Paycoin’s worldwide presence, starting in Europe.
The price of Paycoin rose 5.7% following the announcement, and its daily trading volume increased by 900% to $7.8 million, as per Coingecko data. With a market cap of $70 million, PCI is currently ranked 512th. The launch of Mastercard may be a turning point for adoption, even though it is still more than 98% below its peak.
