London-based blockchain startup Plutus has recently partnered with KYC providers Onfido, ComplyAdvantage, as well as issuer PPRO to connect Bitcoin and Ethereum to the global debit card network. The first debit cards have successfully been shipped, while the web and mobile apps undergo its first phase of public testing.
Plutus offers both a Tap & Pay app, as well as a physical debit card, with a pre-paid balance that can be charged using digital currencies such as Pluton, Bitcoin, and Ethereum. Successfully funded in 2016, Plutus was among the first to draft this concept and allocated a sizeable team of senior software engineers to research & development.
After their official debut at FinTech Connect LIVE 2017 on the 6th and 7th of December, the first Plutus Debit Cards have been received by our BETA testers in Europe with either 20 GBP or EUR balance preloaded on the card as a welcome gift. The official product release is planned for early 2018, when Plutus services will become accessible to the general public in the UK and Europe, followed by customers in other regions such as North America and Asia.
Plutus distinguishes itself from other services by never holding or having access to user funds in cryptocurrency. Using PlutusDEX technology, users exchange in a secure peer-to-peer manner. “This way the transaction goes directly to your address of choice, even cold storage. And buying Pluton or any listed crypto token on the platform is entirely free.”, added Danial Daychopan, founder and CEO of Plutus.it.
Pluton (or PLU) is a loyalty token similar to cashback programs or air miles, which Plutus Tap & Pay and Plutus Debit Card users earn for shopping, and which can be used without fees or delays.
An international law firm for finance and compliance, recently released a statement, confirming PLU as a utility token and it is not “electronic money”, and therefore is suitable to be listed by 3rd party exchanges.
Currently, Plutus is hiring a CMO and has partnered with established digital marketing company Filter Digital, as well as expanding its marketing and customer support teams to adapt to its growing user-base.
Plutus offers a mobile app (Tap & Pay) and physical Debit Card that can be charged with Pluton, Bitcoin, and Ethereum and can be used to pay at any ordinary debit card terminal in the world. Every time a user charges their balance, they receive a reward of up to 3% in PLU.
For those who do not have digital currencies yet, Plutus also makes it possible to place buy orders with 0% withdrawal, deposit, and trading fees. What sets Plutus apart from the competition is decentralised trading, a loyalty system, and a fantastic community.
Press release distributed by Pressat on behalf of Plutus.it, on Sunday 31 December, 2017. For more information subscribe and follow https://pressat.co.uk/