Edge Announces ‘Confidential’ Crypto Mastercard
Edge has launched the first confidential crypto Mastercard with no KYC verification requirements.
By Anna B Kiwanuka
Edge, the company behind the Edge cryptocurrency wallet, recently announced the release of a new “Confidential Mastercard” that does not require any personal information to use.
The announcement on Edge’s official website read, “There is no name or address associated with your Edge Mastercard, making for completely private transactions when your card is used.”
The announcement further added, “We protect your privacy while complying with all requirements for issuers, card associations, regulations, local, federal and international laws.”
Edge co-founder and CEO Paul Puey emphasized, “Definitely not your actual address, you can create a virtual card in around 15 seconds inside of Edge.”
While confidentiality is a big draw for crypto enthusiasts, Puey emphasizes that economic empowerment is the defining principle behind the Edge Mastercard.
“I’ve known a handful of people that are unbanked; they simply cannot get a bank account for whatever reason,” he said.
The new card isn’t just for Bitcoin transactions. Users can fund their Edge Mastercard with Dogecoin, Litecoin, and Dash.
Currently, Edge has a $1,000 daily spending limit and can be used with Apple Pay. Later, options to use Samsung and Google Pay are expected to be added. Later this month, users will be able to order a physical card for $20.
Holders of the Edge Mastercard will also be able to execute transactions at no cost. Top-ups will be instant as well, eliminating the inconvenience of needing to wait to use cryptocurrency. Edge consumers will no longer need to worry about “pre-loading” monies onto their cards. The card will be accepted both online and in-store for increased convenience. Those who want to shop at an online store can copy and paste their credit card information into the order, as well as add a shipping/billing address.
In Puey’s words, “I can’t be more excited for the launch of the Edge Mastercard. Bitcoin users will finally be able to privately spend at thousands of merchants around the US without compromising any personal info and without fees or delays to top up their card! Users must first sign up for an Edge account. This will allow them to activate a digital card within the Edge app.”
Edge Mastercard holders are expected to enjoy spending crypto at over 10 million merchants. At the moment, the card can only be used by merchants in the United States. However, Edge is working on expanding its use beyond the United States.
To explain Mastercard’s part in this initiative, Puey added, “Mastercard is involved in the entire process. They fully approved this, it’s fully legal and approved by Mastercard. It fits entirely within their framework.”
However, according to decrypt, a Mastercard spokesperson reached out after publication to emphasize that Mastercard has no official involvement with Edge’s card.
A spokesperson for Edge then responded, “As far as this template card program is concerned with Patriot Bank, it is approved. The specific item that has not been approved is the custom-designed card that we intend to have… the dark blue card with the mint Bitcoin logo that we’ve shared in our imagery with these announcements.”