DBXChain signed an agreement with China’s leading prepaid cards platform, WJIKA, to develop “Cardeal,” a crypto prepaid cards service. With annual revenues of $624 million, the Chinese company is collaborating with DBXChain to operate with these cards globally, providing liquidity and support to the project.
The service seeks to reduce the gap experienced by crypto holders to make payments for consumption of goods and services. According to the agreement, this service will allow global purchases, 24 hours a day and without settlement problems.
“Cardeal Mall offers convenience to buy products when you travel to another country, study abroad or need to buy abroad, without having to change currency. Currently, Cardeal Mall accepts Bitcoin (BTC), Ethereum (ETH) and DBX Token (DBX). So far, Cardeal Mall has included prepaid debit cards among the top 10 retailers and services, including Amazon, Apple, Carrefour, Walmart, Air China, FamilyMart, Google Play, as well as transportation cards in Taiwan and Japan,” stated DBXChain.
DBXChain teamed up with WJIKA, China’s leading prepaid cards platform, to offer crypto prepaid cards
Customers must use cryptocurrencies to purchase “Cardeal Mall Points,” with which they can later buy the crypto prepaid cards. Customers can also reimburse or sell the prepaid card to Cardeal to obtain new points or extra cryptocurrencies. According to the company, the anonymity of clients is maintained throughout the purchase process.
With this new deal between DBXChain and China’s leading prepaid cards platform, WJIKA, Cardeal Mall will use the supply chain already established by WJIKA. The two companies will strictly control the process of generation and settlement of these crypto prepaid cards, to ensure the liquidity and authenticity of the digital assets used to provide maximum security in the processing of transactions.
In other news, at the beginning of October, DBXChain announced its official partnership with Ruyi Pay, which will integrate its instant payment solution into the DBXChain network. That will allow, through the Ruyi Pay application, users to make mobile payments in more than 400,000 supermarkets throughout China, using DBXChain blockchain.