As announced by Ghanaian crypto influencer on Friday, iCE3 have confirmed today that they have launched a Crypto Debit Card.
LEAK: ICE3X will be the first South African exchange to launch physical cryptocurrency debit cards early next week.
💳 Cards will start shipping to doorsteps for an R250 fee.
💳 Despite supporting other regions, the card will be available in only South Africa.
More info soon! pic.twitter.com/zBHec7IYcj
— Elisha (GHCryptoGuy) 🐂₿ (@ghcryptoguy) May 1, 2020
The exchange confirmed to Global Crypto that the card will be able to be used across South Africa, and will enable crypto holders to spend their funds at any merchant that accepts MasterCard or Visa. The Debit Card converts user’s crypto into South African Rands seamlessly while the merchant receives payment in Rands.
CEO of iCE3, Gareth Grobler says “Many of our users want to buy goods and services with their crypto. The Crypto Debit Card gives power to users who can now spend crypto at merchants countrywide.”
Eugéne Etsebeth, the iCE3X Exchange COO said, “iCE3 has always endeavoured to build partnerships and infrastructure that extends the value of just buying and selling crypto. This crypto card outlines those endeavours.”
According to the iCE3X website, a once off fee of R250 is required to secure the new crypto debit card, which includes couriered delivery.
The relevant fees per transaction are listed in the post as follows:
Swipe & Spend: Free
Cash withdrawal: R10 – R18 (Dependent on bank)
Cashback from retail outlet: R3-R5 Flat Fee (Dependent on outlet)
Maintenance Fee: R10 per month
iCE3X users can pre-register by filling in their registered iCE3 account email at the top of the exchange’s blog post, with preference being given to AIC token holders (the new iCE3 native token).
The exchange announced that they will be distributing the first batch of cards from June 2020 to AIC token holders, and all other pre-registered users receiving their cards in July 2020.
iCE3 also announced a competition whereby users who share the new card on their social media platforms will be entered into a draw to receive their card free of charge.