Diamond Circle, a bitcoin monetary ecosystem for the popular cryptocurrency, announced its pending launch of a new debit card. The Diamond Circle bitcoin debit card will only work with its cashless ATM machines, its own point-of-sale (POS) solutions or through the official Diamond Circle online exchange.
As more businesses try to jump into the bitcoin debit card effort, most others are relying on UnionPay or some other card payment network - so Diamond Circle may run into trouble trying to market its service. However, the company is all about providing safe bitcoin storage in which users have easier access to their cryptocurrency, so we'll have to wait and see how things develop.
There is a growing interest in bitcoin debit cards and ATM machines, such as the Xapo bitcoin debit card, though bitcoin supporters are concerned of possible market fragmentation.