Floki Releases No-Fee Crypto Debit Card, Boosting Token Fundamentals

Memecoin project Floki (FLOKI) released a zero-fee debit card in 31 European countries on Monday, with plans to expand the offering to other countries in the future.

The debit card allows users to spend bitcoin (BTC), ether (ETH), USD Coin (USDC), tether (USDT), BNB Chain’s BNB and FLOKI globally at merchants that accept VISA or Mastercard. There are zero transaction and exchange rate fees, and it is compatible with over eight blockchain networks.

A physical card costs $33, while a virtual card costs just over $10. A 2% top-up fee applies when transferring tokens to the spending account associated with the card.

“FLOKI holders can now directly off-ramp their tokens through a debit card that can be used with millions of merchants without having to worry about going through hassles to be able to spend their funds,” Floki lead developer B told CoinDesk in a Telegram message. “We will also introduce a VIP card that will allow users to have card limits of up to 50K per day and 250K per month.”

B added that the cards will not be available in OFAC-sanctioned regions or where restricted by banks.

Physical and virtual cards are currently available in Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovenia, Romania, Slovakia, Spain, Sweden, and Switzerland.