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Another Crypto Spring Event – Jubiter Crypto Debit Card Launched

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The crypto-market has apparently gradually digested the 2017 hype with all its negative implications. During the hype, hundreds of scams ripped off investors via malicious ICOs and MLM schemes. In 2018, many previously euphoric crypto investors exited ripped-off, disappointed and horrified. The crypto market switched into a bearish cycle – the so-called crypto winter. In Q2 2019, however, this crypto winter seems to finally give way to crypto spring. Promising developments in the crypto startup scene such as the new crypto debit card issued by Jubiter further the early signs of crypto spring.

The WaveCrest Shock

The good crypto startups have made use of the crypto winter to prepare for next crypto spring and developed innovative products. This also includes the Estonian-registered crypto startup Jubiter Technologies OÜ, the operator of crypto exchange Jubiter (www.jubiter.com). The company holds the respective Estonian licenses to operate virtual currency wallet and exchange services. Mid-April 2019, the Jubiter guys released a branded crypto debit card. Actually, a remarkable achievement given the stressful relationship between crypto and credit card networks. At the beginning of 2018, for example, VISA terminated WaveCrest as a member of its network due to non-compliance with its operating rules. Startups like TenX, BitPay, and CryptoPay relied on them

Since then, you haven’t heard much about crypto debit cards. They existed, but few wanted them. Crypto debit cards are one of the typical applications for making crypto mass-ready.

Reviving Crypto Payments Vision

The much-hyped TenX of the Austrians Julian Hosp and Toby Hoenisch raised some $80m in its ICO in 2017 to issue its crypto debit card. While TenX with its many millions failed so far to present a TenX debit card for the European markets, Jubiter silently developed its branded debit card available to customers in the European Economic Area (EEA).

As a fairly new player Jubiter evidently succeeded in reconnecting crypto with the established financial system. This makes the new Jubiter card also a symbol of the reconciliation of crypto with VISA & Co.

The Jubiter card is provided in a joint effort with PowerCard21, a member of the PowerPay21 FinTech Network headed by the former Wirecard director and card payments veteran Ruediger Trautmann. It took the Jubiter guys 12 months of preparation to launch its branded debit card. Currently, only users within the EEA can order the card and they can load it with both Bitcoin (BTC) and Litecoin (LTC). 

Jubiter sells its VISA debit card for an initial €49 which includes express shipping.  To order the card registered Jubiter users have to pass the KYC procedure (upload ID and proof of address). With their debit card, they can spend the cryptos deposited to their Jubiter wallet in real money anywhere in the VISA network. Information on limits and fees as well as additional information can be found on Jubiter’s website.

  1. Critic says:

    Interesting, Jubiter which is knowingly facilitating payment solutions to the unregulated forex operators via its crypto front (via sophisticated redirects) being promoted by Fintelegram?! This just proofs that you/ Fintelegram are selectively targeting operators and potentially have stake in some others yourselves.

    1. Tamir says:

      Well, thank you for your critics. And I mean it. FinTelegram tries to be as critical as possible in the very best interest of investor protection. This doesn’t mean that we are not able or willing to work with companies and people we criticize. To us, this is between the “good” and “bad” actors – good actors are willing to improve. Critics should not be an end in itself.

      We are discussing with many perpetrators and/or questionable actors. This is part of our mission to further a safe online investment environment.

      Our team worked with Jubiter over the last couple of weeks. The Jubiter guys adopted their KYC/AML procedure on the grounds of our critics. Hence, it can no longer be used by illicit broker schemes for example. We appreciate such an approach!

      We already provided an update on this a few days ago. Moreover, we are happy about any single development of good crypto companies to further its mass adoption.

      While we have no stakes in any of those companies we criticize we have to admit that we may not be aware of all bad actors out their.

      Feel free to continue the discussion. Much appreciated.

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