The ANX’s CEO, Ken Lo, came forward with a great idea: let’s make a kind of debit card that can be used all over the world. From Argentina to Zimbabwe, provided there are BTC terminals and ATM’s of course.
“We felt it was important to go beyond current offerings in the marketplace and bring something new and innovative to our customers. The ANX Bitcoin Prepaid Debit Card enables our customers to easily transfer their Bitcoins to their card anytime and benefit from the same freedom and flexibility of a traditional credit card”.
For those who do not know ANX, it is an exchange that is located in Hong-Kong. As most of us know Hong-Kong is one of those financial hotspots in the world like: Singapore, London’s Canary Wharf district or Wall street in New-York.
Now how does one get a debit card and how high are the fees? The potential customer has to create a profile on the ANXBTC exchange site. After that he or she needs to comply the exchange rules and guidelines. This is in the form of a verification procedure.
When you receive your card you can set a certain amount of BTC, which will be converted to dollars. You can fill up your debit card at the ANXBTC exchange. ANX will have a 2.5% rate to charge their cards. So in theory you can use the debit card everywhere.
It is a good way of getting money from your BTC and does seem interesting, though we will have to wait and see. However, some governments might see this as money laundering practices, tax evasion or fraud. We will keep you updated.