Edge’s new card will not collect KYC data used to determine a person’s identity giving complete privacy and instant transfers with no fees.
- Tech startup Edge just released the first confidential bitcoin mastercard.
- The card does not require any KYC data of any kind, nor does it have any associated transaction fees.
- The card can be digital or physical and is loaded on the Edge up with instant transfers.
San Diego-based startup Edge released the first “Confidential” bitcoin Mastercard which does not require know-your-customer (KYC) data used for collecting information related to identity, via an announcement from the company.
“There is no name or address associated with your Edge Mastercard, making for completely private transactions when your card is used,” stated the companys’ website. “We protect your privacy while complying with all requirements for issuers, card associations, regulations, local, federal and international laws.”
Users looking to take advantage of the card will simply need to sign up for an Edge account which will prompt the user to activate a digital card within the Edge app. Options to fund the account with assets will then populate, allowing the user to select bitcoin, and then the account will be instantly funded. If anyone would prefer to use a physical card, they can also be ordered within the app.
There are no fees associated with the Confidential Edge Mastercard, unless customers choose to purchase the aforementioned physical card, which will result in a one-time $20 fee. The card has a daily load and spending limit of $1,000 and there are no credit checks necessary through any third-party clients to get access to the mastercard.
Edge customers will also not need to worry about “pre-loading” funds onto the card, as funds are sent instantaneously once the transfer is initialized. Currently, the card is capable of working in conjunction with Apple Pay, and is expected to become functional for Samsung and Google Pay in the near future.