BitInstant founder says BitCoin debit card to launch within next two months

A BitCoin debit card could be in your very near future thanks to the efforts of trader-backed BitInstant. That fund transfer outfit, dedicated solely to the digital currency, has partnered with an undisclosed international bank to launch a branded debit card within six to eight weeks. News of the development first surfaced yesterday during an online chat with company co-founder, Charlie Shrem, in which he confirmed the cards would cost users $ 10 apiece to purchase and carry a 1% bitcoin transfer fee, as well as $ 1.50 ATM withdrawal fee. To further streamline the exchange process, users will be able to make quick transfers under $ 1000 by scanning a QR code overlay on front or by accessing the personal BitCoin address listed on back — all possible with a single confirmation. Initially, the cards will be denominated solely for USD, GBP and EUR, but more foreign currencies could soon be added in the lead up to its official debut. For now, those are the only bits Shrem was willing to share, as further details on this plastic alternative will be forthcoming prior to official launch. Until then, there’s always AMEX.

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BitInstant founder says BitCoin debit card to launch within next two months originally appeared on Engadget on Mon, 20 Aug 2012 23:12:00 EDT. Please see our terms for use of feeds.

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