Ternio BlockCard - VISA card - The Future of Crypto Spending…. Today

IanKane

Project title: The Company Name is Ternio and the product is BlockCard

Summary: Ternio's Payment Card Platform [BlockCard] supports multiple coins and is the only company enabling users to hold crypto until the point of sale. Other cards take a user’s crypto, converts to FIAT, and places the USD value on a card which is the equivalent of buying a gift card. https://getblockcard.com/

Goals: The BlockCard currently works in the United States. Ternio wants to scale the program globally so users can use the card across the world.

Description: Ternio's BlockCard operates on the VISA payment network for United States residents. BlockCard accounts support multiple cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), BitcoinCash (BCH), Litecoin (LTC), Stellar Lumens (XLM) and Ternio (TERN). Users holding those cryptocurrencies can deposit them in their BlockCard account. Users are then able to spend their funds anywhere in the world VISA is accepted.

https://finance.yahoo.com/news/ternio-blockcard-function-visa-payment-210000266.html

BlockCard uses TERN as the default spending mechanism on BlockCard. TERN is an XLM based asset: https://stellar.expert/explorer/public/asset/TERN-GDGQDVO6XPFSY4NMX75A7AOVYCF5JYGW2SHCJJNWCQWIDGOZB53DGP6C

This means all BTC, ETH, etc. deposits are converted to TERN as a buy order on the Stellar Decentralized Exchange (SDEX), bringing more asset holders to the Stellar ecosystem.

Ternio also has the capacity to license the BlockCard platform to the Stellar Development Foundation if users would prefer to keep their default spendable assets in XLM instead of TERN. Instead of BlockCard it could be "Stellar Card" or some other name.

Links:
Ternio Website: https://ternio.io/
BlockCard Website: https://getblockcard.com/

BlockCard Being Used at Starbucks: https://www.youtube.com/watch?v=zOJtdPT86QI
BlockCard Account Demo: https://www.youtube.com/watch?v=07z5dLkW3F0

IanKane

IanKane Ternio also has the capacity to license the BlockCard platform to the Stellar Development Foundation if users would prefer to keep their default spendable assets in XLM instead of TERN. Instead of BlockCard it could be "Stellar Card" or some other name.

Litecoin and BiBox are now going to utilize our BlockCard™ platform for their own debit card. https://litecoin-foundation.org/the-litecoin-foundation-teams-up-with-bibox-and-ternio-on-special-edition-litecoin-blockcard/

alejomendoza

A VISA stellar card would be great.

Scopuly

If you guys do this for Stellar - it will be real cool!

cballou

It's worth noting our platform is live; we soft launched to our most dedicated users and are opening it up to those who have active accounts with deposits today.

We're one of the only crypto debit card providers approved and operating in the US at this time. Our offering is unique and our primary value proposition to the overall Stellar network is that we increase liquidity in both directions on the SDEX (deposits, withdrawals, card transactions). Secondary to this is the fact we onboard users onto the Stellar network by nature of them signing up and using their BlockCard account.

Our platform was built to operate as a whitelabel program, so a Stellar-specific program isn't out of the question should SDF consider going that route in the future.

We'd primarily be using funding to expand operations in other international corridors for our whitelabel partners who we've yet to announce.

IanKane

🇺🇸US residents can now register at https://getblockcard.com/ , deposit crypto, enter KYC details, and instantly get a virtual card.

You can try the platform and be one of the first of your friends with a BlockCard!

live2board2

As voting winds down, I just wanted to reiterate that BlockCard is live and we're expanding with some exciting partnerships. We're doing something unique and extremely beneficial to the Stellar ecosystem as a whole. All debit card transactions end up hitting the Stellar SDEX in their lifecycle, providing liquidity to the exchange.

bkolobara

live2board2

Are you anchoring the supported cryptocurrencies (BTC, ETH, ...) or are you using existing anchors?
And the liquidity provided is only for the TERN pairs? Or are you doing XLM/TERN and then XLM/everything else.

stellarvanity

bkolobara we do not currently anchor or use existing anchors on the network due to low liquidity and subsequent fees and speeds of the anchors. We convert XLM -> TERN and TERN -> XLM on the SDEX and primarily deal with XLM on a number of third party exchanges to retrieve optimal conversion rates.

Should the liquidity increase on the SDEX for some of the anchored pairs to the point that it competes with the larger exchanges, we'd definitely prefer to keep things on the SDEX. It's a much cleaner experience working with the SDEX.

chriserice

+1 Vote. I hope SCF can help in lowering the monthly fees to $0, which will be the value proposition that I need as a consumer to use this service. All those fees will discourage adoption especially when you start to expand in less developed countries. But yes, I understand you need to crawl, walk, and then run. Love the idea and appreciate the progress your company has made to increase value to the Stellar ecosystem. 😀