Edge Enables Spending Cryptocurrencies Through Mastercard

Self-custody exchange Edge said it launched a Mastercard feature to enable users to spend digital currencies like Bitcoin, Bitcoin Cash, Dogecoin, Litecoin, and Dash from its app.

Edge users can sell their Bitcoin to the connected card when adding funds in the app, while merchants receive funds in U.S. dollars, the company said Wednesday. Users need to register their cards inside the Edge app to start spending, without having to add personal information or pay any fees.

The card, powered by fintech and savings platform Ionia, connects with mobile pay services Apple Pay, Samsung Pay or Google Pay.

In the initial roll-out, the card will enable spending at more than 10 million merchants in the United States and users can spend the equivalent of up to $1,000 per day.

"Without compromising any personal info, and without the usual fees or delays to top up their card, the Edge Mastercard is a true breakthrough for using crypto for day-to-day payments,” said Paul Puey, co-founder of Edge.

“Bitcoin, BitcoinCash, Dash, Doge and Litecoin users will finally be able to spend their currencies at Mastercard accepting merchants in the U.S.,” he added.

Edge uses official spot exchange rates provided by platforms such as Coinmarketcap, a price-tracking website for digital assets, with no margin taken on exchange rates.