Mycelium Partners with BlocPal to Enable Crypto-Fiat Solutions for Next Generation Mycelium Wallet

By AIT News Desk On Aug 24, 2020

Mycelium, creators of The Default Bitcoin Wallet, have partnered with BlocPal International, a leading global fintech and blockchain technology company, to strengthen their offering of crypto-fiat features in their next generation Mycelium Wallet. The upgraded wallet will provide consumers with more options to use their crypto to transact with traditional fiat banking and payment-related services. The partnership will also provide Mycelium users in the USA and Canada with a Mycelium credit card which can be loaded from their Mycelium wallet balances. Mycelium credit cards are also planned to be rolled out later to users across Europe, the United Kingdom and South America.

Mycelium is one of the world’s most established blockchain brands. The Mycelium wallet launched in 2012 and is now one of the most widely used digital wallets on the planet. With over 2.2 million downloads on the Android and Apple app stores, the platform has an active user base of over 235,000 users facilitating over 10 thousand daily cryptocurrency transactions. According to Alexander Kuzmin, founder and CEO of Mycelium, “this strategic partnership with BlocPal helps us continue to scale as a global, consumer focused brand. By offering more options to use crypto together with traditional fiat payment transactions and bank cards, we are able to deliver a powerful, fully integrated experience to our users.”

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BlocPal is a Vancouver-based, global fintech company providing first-of-class enterprise, blockchain-based technology to both consumers and enterprise customers. BlocPal provides customers with digital transaction solutions via API and customized white label services. An essential part of the Company’s platform is the BlocPal blockchain which securely manages both crypto and fiat transactions with Know-Your-Customer (KYC) verification to ensure regulatory compliance. “We are really excited to have Mycelium integrate BlocPal’s services into the Mycelium wallet,” said Nick Mellios, CEO of BlocPal. “Partnering with such a well respected brand is a great way to showcase our integrated fintech services for digital wallets. We are committed to helping the Mycelium team achieve its goals for future service levels and consumer adoption.”

The upgraded Mycelium wallet will allow users to create native BlocPal blockchain wallet addresses and deposit BTC, ETH, XRP, BCH, BSV, LTC and USDT to their wallet address to conduct instant transactions with each of these cryptocurrencies. Using the crypto funds deposited, users will be able to load their virtual and physical Mycelium credit cards for transactions with merchants around the world. Users will also be able to recharge airtime minutes with over 132 countries worldwide, make bill payments and pay with crypto instantly at any merchant participating in the BlocPal merchant network.