A new card issuer, using bitcoins, is taking a new approach to cardholders.
The first card, Tom Tom Club Mastercard, is available to those in the United Kingdom who are not registered as a bitcoin or credit card holder.
“We have a number of partners in the UK that have been using bitcoins to facilitate their trading and trading transactions,” said Tom Tom co-founder Michael Steegers.
“So it’s a very good example of how people are using the blockchain for other purposes, but it’s also just an example of the opportunities that it opens up.”
Steegs said the Tom Tom card is being developed by a team from Tom Tom and the other partners.
“What we are doing is allowing people to trade bitcoin for other currencies and other cryptocurrencies and use the Bitcoin platform for their trading transactions.”
He said Tom is now accepting bitcoin and other digital currencies, with a maximum transaction size of 10,000,000 coins.
The currency is a form of peer-to-peer currency that does not rely on a central authority to verify transactions.
The system is not secure, but Steeges said it is an “exciting time for people who want to trade cryptocurrencies”.
Tom Tom is also partnering with CoinJar, a startup that enables bitcoin exchanges to process their customers’ bitcoin transactions.
CoinJar’s first customers will be members of the TomTom Club MasterCard network, which has about 5,000 members and is backed by venture capital firms including Andreessen Horowitz, Union Square Ventures, and Benchmark Capital.
Steeggers said TomTom is now one of several card issuer that are considering using the Tomtom platform for trade and trading purposes.
The company’s first customer will be a member of the Club Master card network in the U.K. TomTom said in a statement: “We believe the TomToms is the perfect platform for our network to move forward.
We are excited to work with these partners to accelerate the adoption of bitcoin for consumers and merchants, while also allowing customers to transact and trade with others in the network.”
TomTom and other partners will be the first card issuors to accept bitcoins for their transactions.
“The TomTom network is one of the most trusted bitcoin exchange networks and we are looking forward to building a partnership with these trusted partners in order to help to facilitate the trading of bitcoin and digital currencies across TomTom’s network,” said Steeger.
Tom Tom has about 25 million active users in the world, according to TomTom.com, a company that helps users trade bitcoins.
The TomTom platform has a market capitalisation of $11 billion, according a CoinJar analysis.
The Bitcoin blockchain has grown from about $4 billion in 2014 to $60 billion today, according the Bitcoin Association.