First Confidential Bitcoin Spending Card

San Diego-based fintech startup, Edge, has launched the first confidential Bitcoin spending card. Announced on Wednesday, June 8th, 2022, this card does not require know-your-customer (KYC) data for registration. 

“There is no name or address associated with your Edge Mastercard, making for completely private transactions when your card is used,” read the announcement. “We protect your privacy while complying with all requirements for issuers, card associations, regulations, local federal, and international laws.”

This comes at a time when talks about privacy and the abuse of personal information have dominated headlines and recent legislation. KYC laws have been an integral part of the traditional financial system, where an applicant's personal information is required for almost every service.

However, Edge's new confidential Mastercard may be introducing an option for those who do not want to hand over personal information. The card will not require any identifiable information in oder to use.

In an interview, Edge co-founder and CEO, Paul Puey, told Decrypt, 

Not a name, not a phone number, not an email address. Definitely not your actual address, nothing. You can create a virtual card in around 15 seconds inside of Edge.

The confidential Bitcoin Mastercard promises a level of privacy that many will appreciate. The card also ensures that all transactions will only be known by the user.  

There are no fees for using the Confidential Edge Mastercard. However, users who want to purchase the physical card will have to pay a one-time fee of $20. After that, they may order the card by using the Edge app. 

Additionally, the card will not be limited to Bitcoin only. According to Puey, users may also fund their Edge Mastercard by selling selling other cryptocurrencies before using it with eligible merchants in the United States.