Amon Will Be Launching A UnionPay Debit Card

The future of fintech is here, and Amon is fundraising for the card launch with UnionPay International!

Amon will release their UPI Card in 31 EEA countries soon. The company started in 2017 when the Izzo brothers bought some cryptocurrency for investing. But then found that when they needed to use them for everyday purchases, there were many obstacles in doing so. Also, around this time, the market was moving from being Bitcoin oriented towards being more crypto oriented due to the creation of many new cryptocurrencies. Consequently, the brothers decided to create a digital wallet and a tool to not only make day to day purchases using cryptocurrencies easier but also to support the adoption of cryptocurrencies in society.

After a successful ICO, the development of the app began. They then won MKB Bank, which is the fourth-largest commercial bank in Hungary, as a supporter and investor. With the help of MKB, they restructured the entire legal part of the company, adding new opportunities and new services.

Since April 2018 Amon has been developing its wallet integrating fiat, crypto, and several other products to support user spending and investing. Amon has launched a new version of the app that aims to solve some of the frustrations and uncertainties around digital currencies. The Wallet offers different solutions to ease crypto adoption:

  • EUR/GBP and Crypto wallets
  • Amon Earn, an investment product to Earn Passive interest in Crypto Assets

And upcoming:

  • Amon Debit Card to spend EUR/GBP currencies anywhere UnionPay is accepted
  • An investment assistant, to help users to make better investment decisions

With the green light for the card launch, Amon is set to become an important player in a market that is still widely underserved, considering the massive growth of crypto users of the past years (from 5 to 46 million crypto users from 2016 to 2018 according to a Cambridge University Study).

The card will be issued by Moorwand Limited, authorised by the Financial Conduct Authority, pursuant to a licence by UnionPay International. Customers will have the freedom to use the cards with Euro and Pounds anywhere UnionPay is accepted. UnionPay International has shown steady growth in Europe in recent years, it serves all the markets in EEA countries with high POS and ATM coverage in countries such as Italy, France, UK and Spain.

Thanks to the Amon-Celsius partnership, Amon wallet users are also able to get 3 – 12% annual passive interest rates, paid weekly for their digital assets without any withdrawal blocking. To keep their cryptos in the wallet as a savings account. Amon also intends to launch an interface in the application where each customer can use an investment assistant, for analysis of their portfolio and expenses. To aid in making smart financial decisions.

The application provides its customers with one of the best experiences within the financial market, all transactions are fast and efficient, whether in traditional or digital currencies. Exchanges of Euros or Pounds for Cryptos like Bitcoin happen intuitively and without any fees through the SWAP model that finds the best price condition at the moment.

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