1inch Network (COIN: $INCH) is a decentralized exchange aggregator that aims to find the best crypto prices for traders and is powered by the INCH token.
The Aggregator Protocol in 1Inch utilizes Pathfinder integration, which helps to find 400+ liquidation sources on 12 chains such as Ethereum (ETH), Polygon (MATIC), Avalanche, and more.
On Monday, April 8, the 1Inch Network announced the launch of its own Web3 debit card, which fueled the INCH token’s surge.
1inch Partnership with Mastercard and Crypto Life
In a tweet announcing the partnership, 1inch stated, “We’re unveiling the groundbreaking 💳 #1inchCard in partnership with @Mastercard and @CL_Technology! Your #crypto is about to go from hodl to spend, online and in-person, wrapped in an exclusive design.”
With this debit card, users can easily withdraw fiat currency from the supported ATMs and seamlessly use their crypto for online and in-person in-store purchases.
This card, launched in collaboration with Baanx, a crypto card developer, and MasterCard, integrates Titan MasterCard. It was developed to create a bridge between cryptocurrency assets and traditional spending habits, filling the gap between these two without any illegal activity. Furthermore, the card is developed on the Baanx Crypto Life card, which serves as an extension of its functionality.
The users will possess the card in both virtual and physical form, thus providing the cardholder with standard benefits. This proves 1inch’s commitment to serving its users and crypto investors.
Comments on 1INCH Mastercard
Sergej Kunz, co-founder of 1Inch, said, “This is another major step towards onboarding mass users to DeFi.”
He added, “With the 1-inch Card, the user can benefit from the advantages of both DeFi and traditional finance.”
Every user card will have a different number, expiry date, and CVC number, like a standard MasterCard. It will allow users to make transactions for any good they purchase with fast, secure, and reliable conversion from crypto as payment.
Senior VP of Crypto and Fintech Enablement at Mastercard, Christian Rau, said, “We’ve long championed solutions that not only meet customers where they are but also deliver ubiquity, peace of mind, and the highest levels of security.”
He added, “Leveraging Mastercard’s leading technology and standards, the 1inch Card is connecting Web2 and Web3 worlds in an innovative way.”
$1INCH Latest Price Trend
As of Monday, April 8, the token’s price has surged 9.29% in the past 24 hours to $0.62 per token and 4.29% in the past seven days. Over the past 52 weeks, 1INCH is up 17.17%. It has a market cap of $700 million and a 24-hour volume of $115.64 million, a 294.50% increase. The current price is a 92.15% discount to its all-time high of $7.87, achieved on May 8, 2021.
Should You Buy 1NCH?
1inch’s recent move to inaugurate its physical and virtual debit card has created a spark among investors. The token has good bullish momentum, and the volume has skyrocketed by over 294% in 24 hours. Additionally, with Bitcoin halving less than two weeks away, it could further boost the token’s price. Therefore, this could be a good addition to your crypto portfolio.
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