BigPay has announced that it is now allowing its Singapore users to convert their crypto assets into cash to spend via their BigPay debit card. This is made possible with its partnership with TripleA, a crypto payment gateway that’s licensed by the Monetary Authority of Singapore (MAS) as a Digital Payment Token provider.
According to BigPay, Singapore users can now seamlessly convert their crypto into cash using their BigPay debit cards without having to go through the typically tedious verification process. At the moment, they are accepting Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC) and Tether (USDT), with plans to expand supported cryptocurrencies in the near future.
The crypto feature is the latest top-up channel in addition to the existing credit and debit card options. BigPay says the new feature will be a transparent conversion process that has no hidden fees as in seen in many crypto-to-fiat transactions. Unfortunately, the crypto top-up feature isn’t available in Malaysia yet. BigPay Malaysia offers four top-up channels – credit and debit cards, Bank Transfers and over-the-counter cash top-ups at 7-Eleven.
BigPay CEO and Co-Founder Salim Dhanani said “We believe in a regulated financial system which takes the best of both crypto and traditional finance – to increase efficiency and value to the end-user. We want to enable users to interact with digital assets in a safe and secure way, and facilitate overall interoperability.”
Commenting on the partnership, TripleA CEO Eric Barbier said “With over 300+ million crypto owners worldwide, TripleA is happy to work with BigPay to meet the demand for crypto top-ups. With the addition of this new payment method, we are also pleased to continue enabling accessible and transparent digital financial services for BigPay’s customers.”
BigPay Singapore has added three new services to its Major Payment Institution (MPI) License issued by MAS for account issuance service, domestic money transfer, and Money issuance service in Singapore.
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