NAKA Launching the First Self-Custodial Payment Card/Scheme Working on POS Terminals Worldwide

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PRESS RELEASE.SLOVENIA – Sep 27th, 2023 – NAKA introduces a new decentralized approach to finances, built upon a pioneering blockchain-based payment scheme and a payment card that links to the wallet managed by MetaMask and can be read by any POS terminal worldwide.

NAKA has developed a new technology that bridges the gap between the traditional payment industry and the blockchain world. It encompasses a unique payment scheme running fully on smart contracts and a self-custodial payment card that is available to anyone without any bank intermediaries. The NAKA payment scheme and card are fully compatible with the EMV standard, an acronym representing Europay, Mastercard, and Visa. This allows compatibility with virtually any point-of-sale (POS) system on a global scale.

The initial testing phase for NAKA’s card and scheme will take place in two strategically selected locations: Switzerland and El Salvador. These regions have established robust infrastructure for accepting Bitcoin payments at POS terminals, making them ideal for testing NAKA’s cryptocurrency and card payments. NAKA’s payment acceptance system will seamlessly support Bitcoin on the Lightning Network (LN) and the stablecoin USDt on the Polygon, Tron, and Ethereum networks, augmenting its versatility and usability.

Here is what you need to know about NAKA:

What is a NAKA card?

NAKA designed a self-custodial payment card that can be obtained by any user. The card connects to a non-custodial wallet and enables its user to manage his funds at his discretion. The new NAKA card is opening the door to decentralized financial services, benefiting unbanked individuals and those who lost trust in centralized financial institutions.

The card is backed by the NAKA payment scheme, a blockchain-based payment network that executes transactions and settlements by relying on smart contracts. This pioneering technology is disrupting the flow of transactions as we know it today.

What makes NAKA unique?

• NAKA cards can be used with the existing payment acceptance infrastructure.

Compatible with the legacy payment industry standards, the NAKA scheme and card have the potential to be used on any conventional POS device.

During its test phase, the NAKA card will be supported at all NAKA point-of-sale locations across Switzerland and El Salvador launching in October and November this year.

• The NAKA card is self-custodial.

NAKA cardholders use the NAKA decentralized application (dApp) to connect their NAKA cards to a wallet, managed by MetaMask and fund their cards with their MetaMask assets (USDt on Polygon supported) or top them up directly with USDt on the Polygon network.

• Anyone can issue the NAKA card without obtaining additional licenses.

The NAKA card can be issued by any legitimate company either as a so-called primary issuer, where the issuing of cards is communicated directly with NAKA, or through a NAKA sponsoring issuer.

For more information about becoming a NAKA issuer visit our Partners webpage.

Where can you use NAKA?

The NAKA card will officially launch at the Plan ₿ Forum in Lugano, Switzerland, on October 20th and 21st, 2023. NAKA’s CEO, Dejan Roljic, will perform the first-ever transaction with the NAKA card during his live speech in Villa Ciani. During the two-day event, the selected few will become the first cardholders of NAKA and will be able to try out card payments with USDt across the venue and the entire Lugano region.

NAKA powers three Bitcoin Cities

After the official launch, NAKA will be supported in three Bitcoin Cities across the globe: Lugano, Switzerland; San Salvador, El Salvador; and Ljubljana, Slovenia. After the initial phase, NAKA will expand to other markets as well.

Visit NAKA website to learn more about the products and services that will help you unlock your money.

About NAKA

NAKA is a FinTech company developing a comprehensive suite of financial products and services, including a dedicated self-custody payment card, a blockchain payment scheme, and a holistic point-of-sale payment solution, offering a complete payment ecosystem. Built on the foundation of GoCrypto’s success story, NAKA’s blockchain-powered financial ecosystem bridges traditional and decentralized finance, committed to decentralizing finances and achieving financial inclusion for all. Its vision is to pioneer decentralized technology solutions that empower individuals, transcending boundaries to provide universal access to financial freedom for everyone.

Contact: [Nuša Sterniša] [Head of PR] [GoCrypto] [nusa.sternisa@naka.com] [www.naka.com]

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.