Lyra, a cryptocurrency startup that aims to bring exclusive crypto spending to millions of merchants, has announced the launch of its new platform. The platform is set to bring a new development to the crypto space via its innovative platform.
Lyra Provides Virtual Visa cards on Demand to Crypto Users
According to the announcement, Lyra will start allowing crypto users to create and use virtual Visa cards on demand using the most popular cryptocurrencies. This will allow them to use their cryptocurrency in any of the millions of online merchants of the world, including Netflix, Airbnb, DoorDash, Instacart, Walmart, & many more.
Specifically, users can create virtual Visa cards on demand via Lyra’s intuitive dashboard and Chrome extension. Interestingly, the cards will be instantly activated on the platform and available for immediate spending. Hence, users can quickly pay for one-time purchases or subscriptions with their crypto assets.
The announcement further unveiled that users who want to create and use the Lyra virtual cards do not need to undergo any complicated process. They will not be required to disclose their personal information or private keys.
However, users will be required only to choose any one of the significant cryptos the platform supports, load up a balance, and generate their virtual Visa card. Lyra supports a range of leading cryptocurrencies, including BTC, ETH, LTC, and ADA. The platform also supports other cryptocurrencies like SOL, MATIC, BSC, USDC, and USDT.
Furthermore, Lyra also provides additional features to users of the supported cryptocurrencies. The announcement noted that users with any of the supported cryptocurrencies could purchase Lyra Visa Prepaid Cards and set their spending limits. Afterwards, they can add the Lyra Chrome extension to their browsers. This extension allows users to enjoy easy creation of the card on the website and auto-filling of card details at checkout on major retailers.
The development reflects Lyra’s concern about making it easier for people to use their cryptocurrency holdings for everyday transactions and help bridge the gap between traditional finance and the burgeoning cryptocurrency industry.
Speaking on the development, the Founder and CEO of Lyra, Griffin Wheeler, said;
“Our goal at Lyra is to change how crypto is viewed by holders and give them a way to easily spend crypto online. The biggest pain point in crypto is the inability to easily spend your crypto without jumping through hoops or waiting days to sell it. Since only a select few merchants accept crypto natively, Lyra leverages existing card payment infrastructure to facilitate payments at millions of sites online.”