Floki has officially launched its debit card in Europe, allowing users to spend their crypto assets at millions of merchants that accept Visa or Mastercard.
This new initiative will expand Floki’s ecosystem, which has been transitioning from a meme coin to a more utility-focused cryptocurrency.
In a recent tweet, Floki announced that its debit card is now live in 31 European countries, including major markets such as France, Germany, Spain, and Italy.
The card supports a range of blockchains, allowing users to fund their accounts with several popular cryptos.
Among the supported tokens are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USDC, with additional coins expected to be added in the future.
One of the standout features of the Floki debit card is the lack of transaction fees. Users will not incur any fees for regular transactions or for currency conversions.
This is a significant benefit for those who wish to use their crypto holdings without worrying about additional costs.
More so, the card is also designed with multi-chain support in mind, currently allowing integration with eight different blockchain networks.
This broad support ensures that users can choose from a variety of cryptocurrencies when topping up their Floki debit card.
The availability of both physical and virtual versions further adds flexibility for users.
In addition, the physical Floki debit card is available for a one-time fee of €32, plus shipping costs. However, the virtual card comes at a lower one-time cost of €10.
Both types of cards require a top-up fee of 2%, which is applied each time the card is loaded with crypto assets.
While the physical card is currently available in Europe, it will gradually be rolled out to additional countries soon.
Meanwhile, the virtual card option is available for global users, expanding Floki’s reach far beyond Europe.
However, the Floki card is not available in countries that are subject to sanctions by the Office of Foreign Assets Control (OFAC) or those restricted by the issuing banks or Mastercard.
Meanwhile, FLOKI has already seen growth this year, with a year-to-date (YTD) gain of 652%.
Despite this impressive performance, crypto analyst Master Kenobi predicts that the meme coin could surge by over 700% from its current price, reaching as high as $0.0023 by March 2025.
More so, Floki’s token burn strategy could play a role in the future price action of its native token.
Over the past year, the project has burned over 103 billion tokens, reducing the total supply in circulation.
The reduction in supply, combined with increasing demand from new services like the Floki debit card, is a catalyst for price appreciation.
In recent months, Floki has gained traction, with reports showing a rise in the total value locked (TVL) within the ecosystem.
The TVL has grown, reaching new highs, and contributing to a positive sentiment around the project.
Furthermore, the token burn initiative will continue, following a community vote earlier this year to eliminate 15.2 billion tokens.
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