Curve adds crypto functionality
Neobanks and other fintechs are increasingly becoming more ‘crypto friendly’.
With crypto and fintech colliding at breakneck speed the pressure is on for many successful and established brands to play their hand.
Curve, the card aggregating fintech platform, is the latest. While not yet launching a dedicated crypto channel, it now has allowed users for the first time to use their Curve cards to buy cryptocurrency.
“We’ve removed the prohibition in our terms of service that prevented you from purchasing cryptocurrencies, which you can now do at certain merchants.” Curve said in an update.
So far just the following merchants will work: BANXA, Bitpanda, Coinbase, Crypto.com, Kraken, Moonpay, and Uphold.
Curve stresses in an update to its terms & conditions that underlying card issuers of payment cards may not crypto purchases and so transactions may still get declined.
The company also flags that the Mastercard Chargeback Scheme rules do not allow chargebacks for cryptocurrency transactions. This means Curve cannot raise a dispute on a users behalf if something goes amiss.
Curve didn't respond to AltFi for comment for this article.