Ledger, the world leader in critical digital asset security, and Baanx, a UK-based Web3 Fintech company, announced today the launch of the Crypto Life “CL” Card powered by Ledger in Europe, following its launch in the UK with Mastercard.
Powered by Ledger’s unique digital security ecosystem, the CL Card allows users to move assets quickly, seamlessly, and securely between their secured Ledger and their card account, using the Ledger Live companion app.
On top of that, using the CL card is also a way to grow users’ crypto wallets, with 1% crypto rewards in BTC or USDT (or 2% in BXX, Baanx’s native token), each month for any spending. Additionally, crypto conversion to fiat currency only occurs at the time of payment, allowing users to keep their assets in crypto as long as possible before conversion.
In addition to these features at launch, users will later on be able to receive their paychecks in crypto in a number of coins, including Bitcoin, Ethereum and other stablecoins.
“The CL Card powered by Ledger is the first crypto debit card in the world that is paired with the security of Ledger,” said JF Rochet, VP International Development at Ledger. “We now have an easy and secure solution to pay with crypto that also allows you to self-custody until you want to top up. We worked with Baanx to integrate the CL Card with Ledger Live, making it available to millions of users. The CL Card powered by Ledger is a real everyday go-to card covering different users’ needs.”
The CL crypto card was previously unveiled at the Ledger Op3n conference in December 2021, with over 400,000 waitlist signups by early March 2022.
Ledger users can buy, swap, and stake through the Ledger Live App, as well as spend their crypto assets at over 90 million merchants and online stores that accept Mastercard, the CL Card payment network partner for the UK.
Christian Rau, Senior Vice President Fintech and Crypto Enablement for Mastercard Europe commented: “Our role is to enable people and businesses to move value digitally, safely and securely. Whether that form factor be traditional fiat or cryptocurrency, it’s a personal choice. Our work with Baanx and Ledger is exciting as it’s accelerating innovation and empowering this choice in the market.”
Baanx, an innovative fintech company, developed the CL Card to work seamlessly with Ledger Live. Baanx has extensive knowledge and experience in the space, having secured a number of key partnerships for which they have developed APIs and cards, including Tezos.
“The Baanx team has worked hard to develop the card and its game-changing features, working both internally and collaboratively with the Ledger team to roll out the product. We couldn’t be more excited, as we’ve built a product which brings card spending and many other exciting features to life specifically for the large Ledger community to use, giving them resilience in the bear market. We can not wait to see this partnership thriving and are looking forward to further launching it globally in the months to come.” said CEO of Baanx, Garth Howat.