Bitcoin Vault Xapo says the first shipment of bitcoin debit cards are set to ship out later this month. The branded debit cards will allow holders card to withdraw bitcoin on the fly. Cards will start shipping in the middle of this month, and ship continuously through out the rest of the summer.
“Let us keep in mind that it’s important not to be short-sighted when examining bitcoin. Today, bitcoin is used primarily as a store of value. Soon, it will be a payment mechanism. In the near future it will be a unit of account. We are thankful to be a part of the journey and the ecosystem,” wrote Wences Casares, founder and CEO, reports TechCrunch.
The debit cards are going out the door as Xapo has picked up another infusion of investor funding. The bitcoin vault has raised $20 million from Greylock Partners and Index Ventures, bringing its total investment capital to $40 million. It plans to use the new funding to make bitcoin more accessible to the general user and to further protect currency it is holding in its vaults.
According to The Wall Street Journal, the new funding round brings Xapo’s total valuation to north of $100 million.
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