RedotPay, a cryptocurrency payment platform based in Hong Kong, has recently launched its physical Visa card, which is now open for global applications. Users of RedotPay can apply for this card directly through the app's "Apply for a Card" interface. The physical card allows for ATM withdrawals in fiat currencies worldwide and can be used for in-person transactions.
Before introducing the physical card, RedotPay had earlier launched a virtual card and app that support various payment services such as Apple Pay, Google Pay, PayPal, Alipay, and WeChat Pay. This enables users to use cryptocurrencies for everyday transactions like public transportation, dining, shopping, Uber rides, Netflix subscriptions, and more.
The application process for the RedotPay card is straightforward and can be completed entirely within the RedotPay App. Users need to download the app from the Apple Store or Google Play, verify their identity, and pre-load card application fees in the form of cryptocurrency into the RedotPay wallet. It's important to note that RedotPay does not serve residents of certain countries and regions, so users should check the official website for eligibility before proceeding with verification and deposits.
Security is a priority for RedotPay, which operates within Hong Kong’s regulatory framework to ensure the safety and legality of user assets. They employ KYC (Know Your Customer) processes through Sumsub and transaction monitoring (KYT) with Beosin's tools like EagleEye and Trace to monitor financial activities and safeguard users’ digital assets. Each user is assigned a unique blockchain address, and the card is separate from the user’s assets to prevent issues like freezing from affecting wallets and assets.
Overall, RedotPay’s cryptocurrency credit card offers a secure and convenient way for global users to access their digital assets and perform everyday transactions with ease.