Bitcoin trades above $40,000, snaps two-day slide
Crypto lender Nexo has teamed up with Mastercard to launch the first 'crypto-backed' payment card
Bitcoin traded above $40,000, following a day of gains after snapping a two-day losing streak and trading lower in eight of the last nine days.
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Bitcoin remains down more than 9% month-to-date and more than 10% year-to-date.
Most cryptocurrencies gained on Wednesday.
What is being called the world's first "crypto-backed" payment card has arrived.
Crypto lender Nexo has teamed up with global payments company Mastercard to launch the card on Wednesday, according to Reuters.
It represents the latest move by financial networks to bring crypto into the mainstream.
The card will first be available in selected European countries.
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The card gives a cardholder the ability to spend without selling their digital assets. Those assets, such as bitcoin, are held as collateral.
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The card, which is linked to a Nexo-provided, crypto-backed credit line, can be used at 92 million merchants worldwide where Mastercard is accepted.