TRASTRA app IBAN use cases

Crypto Payments with TRASTRA IBAN


Acting as an off-ramp for payment gateways in their endeavor to better servicing their clients, cryptocurrencies have offered private individuals and businesses of all sizes the opportunity to bypass intermediaries altogether and quickly get payments through. But given the tethering of most users around the world to traditional banking services, the need for integrating cryptocurrency payments into conventional payment channels has become apparent.

Among the pinnacles of traditional banking that dominates the globe through the use of bank cards is the IBAN, or the International bank account number, which is used for international payments. IBAN complies with ISO 13616 standards and was originally used to simplify and speed up the processing of international payments in the countries of the European Union. Currently, IBAN is used in non-EU countries as well and has been accepted worldwide.

To bridge the gap of reaching out through cryptocurrencies to bank cardholders, TRASTRA has recently launched its crypto card with IBAN accounts that are directly connected to the TRASTRA Card.

TRASTRA IBAN use cases

The TRASTRA Debit card is a specialized service issued by VISA as an advanced solution for cashing out cryptocurrencies to Euros without using a bank account while having no transactions made through crypto exchanges. Such an approach offered by TRASTRA gives both businesses and private users the security and transfer speed characteristics that cryptocurrencies had been developed to achieve.

The TRASTRA payment card, which is tethered to the user’s cryptocurrency wallets and personal IBAN account, can be used to buy crypto, make purchases and withdraw cash in ATMs via a specialized, free TRASTRA wallet. The wallet can also be used to buy Bitcoin, send, receive, and store the most popular cryptocurrencies with high levels of security, 2-Factor Authentication, and other features for enhanced user experience. Such a combination of instruments easily places TRASTRA as one of the best solutions to pay with crypto.

The benefits of having a card linked to IBAN like that offered by TRASTRA are many and start with the most basic use case of purchasing cryptocurrencies with direct bank transfers at the lowest fees available on the market. The direct link to a bank account allows users to bypass using cryptocurrency exchanges and thus spare themselves the worry of placing their funds at needless risk.

Read also – Welcome TRASTRA IBAN account

The growing base of employees accepting cryptocurrencies as a partial payment or those who receive a salary in crypto or in Euros can use the TRASTRA card to receive their funds directly to their IBAN account and cryptocurrencies to their wallets. The free TRASTRA wallet offers both easy onboarding and an intuitive interface for making the experience of using it via a mobile app as reminiscent of using standard banking applications as possible.

Employers can also rely on TRASTRA to formulate a Bitcoin salary or send salaries to their employees in EUR and in at the lowest possible fees and with virtually instant transfer times. Such an all-in-one service streamlines financial operations and is entirely legal, as the Trastra Account and Visa Card is issued by UAB “Finansinės paslaugos „Contis“ which holds the electronic money institution license No. 53, dated 23-07-2019, issued by the Bank of Lithuania.

Read also – Crypto cards for your business

The legality and convenience of the service means that users of TRASTRA do not need a separate bank account to store their Euro and can thus do away with unnecessary and often expensive bank cards that require yearly service charges. Unlike many bank cards that make users incur commissions on overcharge amount transfers, the commission-free basis of TRASTRA allows it to be a go-to solution for Euro and cryptocurrency operations. The ability to send Euros via bank transfer and receive them directly to the balance also means that the TRASTRA card is fully on par with conventional banking products currently available on the market.

When it comes to the modern world of finance and the emergence of crypto cards for business, it is often becoming difficult to distinguish where the line between traditional innovative blurs. But the bottom line always makes it clear as traditional bank card issuers still adhere to principles that place charges on the users, unlike services like TRASTRA that offer wholesome solutions that both private users and employers can trust.

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