As US citizen and international payments / FinTech veteran - I have been very interested in creating a relationship between US and international banking/ payments systems that would support on/ off ramps locally in many regions as well as offer banking services in those regions where possible so SOVRYN users can have multiple, seamless transfer options in both crypto and fiat frameworks.
I brought in a group with banking in the US, Singapore, EU, and coming in LatAm (currently ecommerce is live there). They offered the crypto pos solution in Miami for Rolling Loud (largest Hip Hop festival in the world) successfully and can use USA cards to purchase crypto via an easily integrated widget.
Pricing has been provided to Ingalandia and - I believe - it just remains to have the community prioritize the integration. My suggestion is more than just allowing a card based rBTC transaction (very cool) but look at the potential for broader adoption enabled by EU, Singapore, and USA on/ off ramps. I am happy to address questions or comments. I think this would be VERY helpful in our growth / adoption efforts as they are banking, payments, and crypto friendly (rare for regulated banking businesses) and could even work with BabelFish for stablecoin integrations in the future!
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Although it is not what you are proposing, do you think the opposite is possible?
I mean, is it possible to create a card with balance in rbtc to be spent as a gift card. I imagine a card that does not require identification to be created, either physical or virtual.
It is not my idea to detract from the main purpose of your post, it just occurred to me as something complementary to your proposal.
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I just posted in chat - I have a partner doing the load side from gift card purchase. The reverse MIGHT be possible as well. In the US Gift Card act would drive and getting a card under $1,000 that is not allowed to dispense cash would be OK. I also shared a video where you can skip that and just get cash from BTC. I am sure my partner could get rBTC as well. Just need mobile phone to access the cash
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My partners who would be happy to work on the above: Ibanera, BitLine, and B4UFinancial (Bitload4U out of Malta is theirs as well for international)
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I know I have told others of why I am pushing this stuff but putting it here as well. I run about $40 billion through my machines in over 700 land based casinos with over 6,000 kiosks and ATMs and millions of consumer customers in US with additional footprint in CA, Switzerland, UK, Carribean, and Macau.
Crypto is NOT currently widely available on the gaming floor but making it that way with the partners I mentioned above - see videos
Bitcoin to CASH From ATM or ticketing kiosk
Secured assets ( not sold) to access funds globally. Fully KYCed , assets scanned and custodied, and access to cash in less than 20 min
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The BTC to Cash machine seems neat. How hard would it be to add DLLR to it?
Hence, aside from the $1.40 withdrawal fee, what is the Btc/Usd spread?
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Well - our partner is expanding from just BTC to ETH, USDC, and USDT so possible but this is a multi-function ATM (check cashing, fiat wallet access, closed loop transactions, gaming tickets, etc) so need to have some scale to justify the work effort. The on/off ramp partners at more flexible since they can be inputs into our growing wallet base that already has access to all these machines.
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Forgot to mention this. Since ATMs typically give out $20s (and my kiosks can handle some smaller bills) then the slippage risk is held by the third party unless volatility exceed 1-2% then the transaction is declined. That risk is embedded in the fee.
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