NAKA Goes Live: The First Non-custodial Payment Card Fully Compatible with Traditional Payment Infrastructure

by Victor Dey

Printed: October 25, 2023 at 2:12 pm Up to date: October 25, 2023 at 2:13 pm

by Danil Myakin

Edited and fact-checked:

In Transient

The NAKA scheme is a fee community constructed on blockchain know-how, but it seamlessly aligns with the EMV (Europay, Visa, Mastercard) customary, making certain compatibility with standard fee infrastructures worldwide.

Think about hooking your globally accepted Visa or Mastercard to your non-custodial crypto pockets – providing you with sole management over your cash, and with the ability to use it at any present point-of-sale, ATM, money register, e-commerce and extra. Meet NAKA.

NAKA made its grand entrance onto the world stage with the disclosing of its groundbreaking blockchain-based fee system and EMV-compatible NAKA card. CEO Dejan Roljic introduced this thrilling improvement throughout his closing speech on the Plan B Discussion board in Lugano, Switzerland.

This second represents a big milestone within the historical past of funds, because it marks the primary public demonstration of an EMV-compatible blockchain-based fee scheme and its corresponding self-custodial fee card, totally aligned with trade requirements.

Already operational in Switzerland, the NAKA scheme and NAKA card have garnered help from over 300 shops in Lugano. This pioneering resolution is quickly to be out there in El Salvador and Slovenia.

The NAKA scheme is a fee community constructed on blockchain know-how, but it seamlessly aligns with the EMV (Europay, Visa, Mastercard) customary, making certain compatibility with standard fee infrastructures worldwide. This innovation facilitates the combination of blockchain funds into present fee programs, providing a transparent path towards world cryptocurrency adoption.

NAKA fee transactions and settlements are executed by way of good contracts on the Polygon community. This course of is user-friendly, speedy, and cost-effective in comparison with conventional fee transactions.

What units NAKA aside is its self-custody characteristic, granting NAKA cardholders full possession of their funds with out the necessity for intermediaries when managing their property. 

NAKA’s CEO Dejan Roljic delivered an impassioned speech addressing the dire challenge of economic exclusion, notably among the many unbanked inhabitants. He shared his imaginative and prescient of NAKA as a pathway to financial freedom, leaving the viewers deeply moved. 

“Being unbanked doesn’t simply imply not having a fee card. It means not having an choice to ever get a good wage or having a credit score rating. It means you’ll by no means acquire a mortgage. Having your personal house is only a dream, however worst of all, you may by no means get previous. There isn’t a pension for individuals who didn’t obtain their cash by way of a checking account and paid taxes. As soon as you might be previous and dwelling unbanked, you should make sure you don’t get sick. In the event you get sick, you may’t work; in case you don’t work, you may’t purchase meals, pay hire, or purchase medication” mentioned Dejan Roljic, CEO of NAKA

Dejan’s message to the blockchain-savvy crowd was clear: NAKA is on a mission to impact optimistic change in society, and all who share this imaginative and prescient and fervour are welcome to affix the journey towards financial freedom for all.

The speech prolonged right into a panel dialogue, moderated by Joe Nakamoto, the place Dejan Roljic, Paolo Ardoino (CEO of Tether Basis), and Luis Pinedo (Head of Product at Bitfinex Pay) mentioned how NAKA, Tether, and Bitfinex are driving cryptocurrency adoption in Switzerland, the European monetary hub, and rising markets similar to El Salvador.

The NAKA crew hosted a formidable showroom expertise on the elegant Villa Ciani in Lugano throughout the Plan B Discussion board occasion. Guests had the chance to buy within the NAKA buying nook and witness NAKA card transactions in actual time. A choose few had been even granted unique NAKA playing cards pre-loaded with USDt, accepted throughout the venue and all through the Metropolis of Lugano.

Moreover, the NAKA crew engaged in partnership discussions with varied fee facilitators. NAKA has distinct partnership packages for Issuers, Acquirers, and Unbiased Gross sales Organizations, fostering a community of companions to broaden the attain of the NAKA resolution to new markets.

In case you are curious about changing into a NAKA cardholder, please be a part of the waitlist. For partnership alternatives, kindly contact us by means of the Partnership kind on our web site.

Victor is a Managing Tech Editor/Author at Metaverse Publish and covers synthetic intelligence, crypto, knowledge science, metaverse and cybersecurity inside the enterprise realm. He boasts half a decade of media and AI expertise working at well-known media shops similar to VentureBeat, DatatechVibe and Analytics India Journal. Being a Media Mentor at prestigious universities together with the Oxford and USC and with a Grasp’s diploma in knowledge science and analytics, Victor is deeply dedicated to staying abreast of rising developments.
He provides readers the most recent and most insightful narratives from the Tech and Web3 panorama.

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Victor Dey

Victor is a Managing Tech Editor/Author at Metaverse Publish and covers synthetic intelligence, crypto, knowledge science, metaverse and cybersecurity inside the enterprise realm. He boasts half a decade of media and AI expertise working at well-known media shops similar to VentureBeat, DatatechVibe and Analytics India Journal. Being a Media Mentor at prestigious universities together with the Oxford and USC and with a Grasp’s diploma in knowledge science and analytics, Victor is deeply dedicated to staying abreast of rising developments.
He provides readers the most recent and most insightful narratives from the Tech and Web3 panorama.