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Sui Partners with xMoney and xPortal to Launch Virtual Mastercard in Europe

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Highlights:

  • Sui has launched a virtual card for users across Europe, which is available immediately.
  • The card works with Apple Pay and Google Pay and supports spending at over 20,000 stores.
  • The team will launch a physical card soon, with more updates along the way.

Sui has announced a partnership with financial platform xMoney and crypto app xPortal to launch a virtual Mastercard. The new service allows users across Europe to spend digital currency like regular money using a custom Sui wallet built into the xPortal app. The digital payment product is available immediately. The product works with Apple Pay and Google Pay, giving users access to payments at over 20,000 stores.

The Sui wallet is now fully integrated into the xPortal app, which already has around 2.5 million users. Through this partnership, users can manage and spend their SUI tokens in real life without moving them off the app. The virtual Mastercard functions like a traditional payment card. However, it connects directly to the Sui ecosystem. It is designed to offer a simple and fast user experience, helping people use digital assets in daily purchases.

The custom card works within the existing xMoney system. The system powers all financial processes behind the scenes. xMoney handles payments, card issuing, and other services that help connect digital wallets to the world of spending. By working with xMoney, Sui ensures that users can use their SUI tokens for payments in a trusted and smooth way without facing delays or complications.

Sui Focuses on Compliance and Real-World Use

xMoney will provide the financial system behind the new card. In particular, it offers all the background support needed to make each transaction work. The support includes setting up the systems that process payments, providing the licenses, and issuing the cards that users receive.

Christian Thompson, managing director of the Sui Foundation, said the new product helps open the Sui network to regular users who want to spend crypto without extra steps. He explained that the easy user experience of xPortal, combined with the strong support of xMoney, made the card possible. He also noted that this product helps move the Sui ecosystem into the hands of people who want to use digital money as easily as any banking app.

The xPortal app supports buying, spending, swapping, and staking crypto in one place. These features let users stay in control of their assets. The app keeps the ownership and security features that come with self-custody. The user holds their own private keys and controls their funds without giving them to a third party. At the same time, the app connects to tools that make everyday payments possible using SUI.

Sergiu Biris, CEO of xPortal, said that the decision to include Sui in the app fits with their plan to make digital assets available to everyone. Moreover, he said this partnership brings together Sui’s technology and real-life use in a way that works for all users.

Sui Prepares for Physical Card Launch and Future Expansion Plans

The team will launch a physical version of the card before the end of this year. The team behind the project has also shared plans to grow into more regions, including the United States. More details about the next steps will be released during the Sui Basecamp event. The event will happen on the first and second of May this year.

At press time, SUI is trading at $3.10, a 3.87% increase in the past day. The token has increased by 50.35% and 27.95% in the past week and month, respectively. In addition, the market cap stands at $10.1 billion.

Source: CoinMarketCap

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