Cryptocurrency card issuer, CVS will be the first pharmacy in the US to accept cryptocurrency
Bitcoin is set to be the next big thing to come to the US, as a new card issuer is set for its debut.
The Carding Network (CNB) will be one of the first companies to accept bitcoin, according to a press release issued by the company, which is headquartered in Houston.
It says the new company, Carding, will be able to accept the digital currency because it has access to the blockchain, which tracks transactions.
The card will be issued in the same way that credit cards are, with the exception that the card will have a magnetic strip on the front that can store bitcoin.
The company is looking to roll out the card in early 2017.
The launch comes just months after Coinbase announced it would be the “first retail bitcoin wallet” in the U.S. The move follows a string of major companies, including Walmart, Microsoft, and Starbucks, all announcing plans to accept bitcoins.
Carding also has an ambitious roadmap, which includes making its card available in over a dozen cities in the next year.
CNB also claims that it will also offer its card to people outside of the U, and that it hopes to roll it out to the entire U.K. by the end of the year.
Card owners can now use the card to pay for goods and services from anywhere in the world with a few clicks, including on-demand apps and other online retailers.
In addition to the U., Carding plans to offer its cards to customers in Australia, Canada, Japan, and Mexico.
The cryptocurrency is already accepted in Japan, where it is also used to pay online bills.
Bitcoin is still an obscure and largely unregulated currency, which has seen a steep decline in price since the cryptocurrency was launched in 2009.
The average bitcoin price dropped by $3,500 in the last six months of 2017 to $2,700, according the CoinDesk Bitcoin Price Index.
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