Couldnt we do something like Nexo did? Partner directly with mastercard and visa.
These fees seem high but if you take into account, trading and transaction costs to get to what I use now, a crypto.com card, its still a bit too high but manageable. Id need to check what the numbers are.
I know mastercard has a crypto card program. Visa has a debit card program.
Im not exactly sure of the cost, compliance might be an issue but i dont think its over 50-100k and we could set fees and everything.
Visa and MasterCard don't partner directly with anyone apart from issuing banks/principal partners. That costs around $1m per region per card scheme.
Most programs actually involve 3 parties; the card scheme (Visa/MC), the principal partner (bank) and a card management company. We are the latter.
We have partnered with multiple issuing banks and work with them to provide both B2C and B2B2C programs (white label).
And don't forget, Zypto isn't just cards!
That actually would make sense, especially, if you could come up with competitive fees.
You mentioned Nexo, they reshaped their reward/benefit program, so %age of acc amount has to be in their native coin for better benefits. Here it could give reason for people to power up Hive, even if they are totally newbies, just coming for debit card.
Anyway, the ones what I mentioned above are in this MC crypto card program.
MC also has a Crypto Credential program Wirex and bit2me is participating in that.
Partly that's why these are the market leaders. They can offer the best fees with MC.
Hardly think you can make deal with MC, but you definitely can make deal with Tap, Wirex, Nexo, bit2me. And you get access to a huge userbase exchange, card provider + Hive users could get very competitive prices.