Vaultbank takes on cryptocurrencies roadblock
Vaultbank, whose board of directors includes former BlackRock CIO Ken Kroner and former Bank of America MD Mike Gay, has announced the launch of a debit Mastercard that supports cryptocurrency transactions. This will be available to US and EU customers upon the conclusion of a token sale. The token presale launched 17th January and will stay open until 17th February or until $20 million is raised, at which time the public sale will begin.
“The difficulty of using cryptocurrencies to pay for everyday goods and services has been a major roadblock to mainstream adoption,” says Austin Trombley, President and CTO of Vaultbank. “With the Vaultbank debit card, we make it possible to conduct everyday transactions around the world using cryptocurrency, facilitating a major step forward in the future of money.”
All cryptocurrency-to-fiat transactions will be completed through the Vaultbank Exchange, allowing Mastercard and other future processors to not “see” the cryptocurrency being used. The Vaultbank Exchange intends to offer trading of top utility tokens, as well as potentially act as a launching and trading platform for security tokens and securities like Mutual Funds, at low rates.