Hong Kong Bitcoin Exchange ANX Issues Bitcoin Debit Card

July 10, 2014 17:48 UTC
Image courtesy of ANX

Today, ANX announced that they would be issuing the world’s first Bitcoin Debit Card, with shipping to start very soon. The Debit Cards will be available first to existing ANX Bitcoin Exchange customers who have already completed all verification steps. The development of Bitcoin Debit Cards has been ongoing for many months across several different competitors, and the community as a whole is eager to try out the different offerings.

“We believe prepaid cards will play an integral role in a Bitcoin consumer’s day-to-day financial life,” said Ken Lo, Chief Executive Officer of ANX. “As a market leader we felt it was important to go beyond current offerings in the marketplace and bring something new and innovative to our customers. The ANX Bitcoin Prepaid Debit Card enables our customers to easily transfer their Bitcoins to their card anytime and benefit from the same freedom and flexibility of a traditional credit card.”

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The ANX Bitcoin card will function just like the card of your dreams, taking your funds via any of ANX’s 10+ supported currencies and making them available to you on the monolithic existing credit card infrastructure. The ability to access Bitcoin in this manner will have resounding effects on the functional liquidity of Bitcoin. Even though we applaud every new e-retailer such as Newegg, TigerDirect, and Overstock that accept Bitcoin, we are still yearning for the day that Bitcoin can be spent even at unfriendly or downright hostile locations.

According to the creators of the card, the ANX Bitcoin Prepaid Debit Card’s features  include:

1. Allows ANX customers to spend their Bitcoins to make purchases via conventional credit card payment system such as online retailers or physical retail stores.

2. Allows ANX customers to perform cash withdrawals via an extensive ATM network spanning over 200 countries.

3. Automatically links ANX customers Bitcoin exchange accounts and Bitcoin wallets with their ANX Bitcoin Prepaid Debit Card.

4. Funds can be added to the ANX Bitcoin Prepaid Debit Card via Bitcoins or any of the 10 major currencies that ANX supports.

5. Funds are seamlessly loaded onto the ANX Bitcoin Prepaid Debit Card via the ANXBTC and ANXPRO online exchange websites.

Hong Kong’s Bitcoin Scene Is Flourishing

ANX first burst on the scene in the middle of 2013 and has since risen to be the 6th largest Bitcoin Exchange by volume, according to Bitcoincharts. ANX’s holding company, MEGA IDEA HOLDINGS LIMITED formerly trading as Asia NexGen and now trading as LEADTOP ASIA, was one of the first digital currency focused firms in Hong Kong to be granted a Money Services Operator license by the Hong Kong Customs and Excise Department. The ANX Team comprises of Ken Lo, CEO and co-founder, Hugh Madden, CTO and co-founder, Dave Chapman, COO and co-founder, and dozens more dedicated workers based out of Hong Kong. Together, they are leveraging years of marketing and technology experience to do the whole Bitcoin Exchange thing the right way. Despite the damage caused by scams such as HKCex, ANX and other Hong Kong Bitcoin businesses have made significant headway: There is even a Bitcoin ATM Store welcoming visitors 24/7/365. ANX might be poised to beat Xapo to the delivery of prepaid Bitcoin debit cards, a much-demanded feature within the Bitcoin ecosystem for several years now. I know many people who are pre-ordering both, just in case.

@bitxbitxbitcoin

Caleb is a graduate of the University of Virginia where he studied Economics, East Asian Studies, and Mathematics. He is currently pursuing his MSc in Digital Currency at the University of Nicosia.