Inst.Money also offers its business partners and other rails users its services related to debit and credit cards services
Recently crypto trading and purchasing service provider platform Inst.Money has been launched that acts for fiat on and off ramp along with the offering in order to support N3 NEO token. At present, users could buy and sell NEO and USDT directly while using the platform through fiat currencies like USD or EURO.
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As far as the methods of purchasing the NEO tokens while using Inst.Money, there are two ways to do so. The first way is to use the Fast Buy option available on the platform where the payment gateway is having lower fees and there are minimal requirements of Know Your Credit or KYC details. It also avails the features to the developers for integration of Fast Buy option API with their applications. Other than this, the second method of completing the purchase of NEW would be through the thor party platforms like Simplex, Moon Pay, etc. These platforms were among those who also supported more cryptocurrencies but also required higher transaction fees along with more user information, that could add more friction during the process while making it more tedious and time taking.
The platform of Inst.Money is a kind of financial service that would allow its users to make purchases of cryptocurrencies and offers related to credit cards backed by the cryptocurrencies. The team is spreading across Singapore and also in mainland China and the platform is also among the Principal Members of financial services giants like Visa and Mastercard network. Principal Members usually include authorization of financial institutions to offer services of processing transactions and credit cards.
Inst.Money also offers its business partners and other rails users its services related to debit and credit cards services. While a spokesperson speaking at the conversation with Neo News Today, said that the physical credit cards and debit cards made up of plastic and metal are available for its business partners and they have also distributed tens of thousands of its card services to its users to date. However, in contrast, only credit cards and virtual prepaid cards are available for retail users at present times.
Source: https://www.thecoinrepublic.com/2022/05/18/is-inst-money-adding-neo-for-credit-card-purchase-support-in-the-fiat-ramp-platform/