A prominent company in the wallet industry working towards its goal of providing bitcoin and crypto services to those without traditional banking services
Most companies involved in the crypto services across the crypto space point out specific problems and come up with solutions to counter the issue and avail of related services. One of the major issues that crypto users face is that they lack any financial statements or records due to not having a bank account. The company aims to cater to these services, and the creators of Edge Cryptocurrency Wallet, Edge, has announced the launch of the all-new ‘Confidential Mastercard‘. This is said to be requiring no personal information for identification purposes.
While giving details about the financial product, co-founder and CEO of Edge, Paul Puey, said that Confidential Wallet would not need any name, phone number, or email address. It would not need any actual address; still, a user can create his virtual card within 15 seconds in Edge.
Puey further outlined that given the crucial demand for privacy from crypto enthusiasts, Edge Mastercard’s defining principle is economic empowerment. He said he had known some unbanked people who could not get a simple bank account for whatever reason.
About the card, Puey said that it’s not limited only to Bitcoin. Edge CEO said that users could sell their Bitcoin Cash (BCH), Dogecoin (DOGE), Litecoin (LTC), and Dash (DASH) in order to fund their Edge Confidential Mastercard that can be used at eligible merchants across the United States.
Edge has said that the Confidential Mastercard has used the Mastercard template program for its issuance with Patriot Bank, based in Connecticut. However, a Mastercard spokesperson said that Mastercard has no involvement officially with Edge’s Confidential Mastercard.
Regarding this, Edge spokesperson said that the template card program with Patriot Bank is approved. Further, he admitted that the only specific item that has not received approval is its custom-designed card that the company has planned to have that he detailed would appear as the mint Bitcoin logo over the dark blue card. Edge has shared these details in their visual symbolism along with their announcement.
However, the CEO of Edge Puey said that MasterCard had been involved in the process where they fully approved this, which is fully legal and approved by MasterCard itself. This is said to fit within their framework completely.
Source: https://www.thecoinrepublic.com/2022/06/09/what-features-confidential-mastercard-of-edge-is-going-to-offer-for-its-users/