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PayBX: Spending Crypto with your Existing Card

PayBX: Spending Crypto with your Existing Card


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Cryptocurrencies are becoming more and more popular by the day. Undoubtedly, the main reason for this is the fact that the market has exploded in value throughout the past few months.

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Bitcoin surged to an all-time high just below $60,000 while Ethereum topped $2,000 for the first time in history.

Other cryptocurrencies have also performed remarkably well, driving the total market capitalization above $1.7 trillion at the time of this writing – a considerable number for sure. It’s also worth noting that major companies, including Elon Musk’s Tesla, have already bought Bitcoin and put it on their balance sheets.

However, spending crypto remains somewhat of a struggle.

There are various cryptocurrency companies and businesses that offer dedicated cards that hold your coins and make them spendable, but the problem with that is that the user needs to get a new verified account with them and an additional physical card in their wallet.

This is where PayBX comes into play – a solution built by aXpire that allows you to use cryptocurrencies and spend them at will using your existing cards.

We spoke with aXpire’s CEO, Gary Markham, to get more insight into what PayBX offers and what he sees as the product’s place in the growing cryptocurrency market.

PayBX – Pay With Crypto

First things first, it’s worth noting that the service is not yet available. The product is being launched in Q3 of 2021, and users can currently get on the waiting list to receive early access.

With this said, PayBX offers a convenient way for people to purchase crypto and to spend it in any store, be it physical or online, with their existing cards.

This comes with a few serious advantages. Some of them include:

  • Spend cryptocurrencies anywhere.

As mentioned above, some of the crypto providers might have certain limitations as to which merchants you can use. With PayBX, users can spend their crypto in any store, regardless of whether the vendor accepts crypto or has even heard of them.

  • Utilize multiple cryptocurrencies.

At launch, PayBX will support a wide range of cryptocurrencies stretching from BTC, ETH, and stable tokens such as DAI, USDC, and USDT, to DeFi tokens such as UNI, AAVE, COMP, and YFI.

  • Purchase and sell crypto with FIAT.

Users of PayBX can buy crypto using FIAT as well as sell into FIAT and withdraw to their bank account with competitive fees, providing a quick and easy on-ramp/off-ramp for crypto.

  • Swap between cryptocurrencies.

Additionally, PayBX will allow you to swap between different cryptocurrencies supported on the platform, so there’s no need to move the assets onto an exchange in order to do this.

  • Earn interest on crypto holdings.

As an especially interesting feature, PayBX also integrates with a to-date undisclosed major CeFi player to be able to offer interest to its users for their crypto holdings. Users holding BTC, ETH, and stable tokens will be able to get competitive APY through their use of PayBX. Additional APY can be unlocked through HODLing PayBX’s AXPR token in-app.

  • Integrate with your bank.

Lastly, users are able to link their cards into the PayBX application through an API and enjoy the ability to spend crypto easily through everyday transactions.

All in all, having no extra cards usually offers a lot of flexibility. Plenty of providers are already supported, including the major payment processors such as Visa, MasterCard, American Express, and others.

What’s to be Expected?

In addition to the services described above that will be available at launch, PayBX will also work on expanding their portfolio through other new features such as integrating DeFi opportunities as well as through integrating additional assets into the platform.

“We think PayBX can offer something new to the growing list of payments infrastructure being built out by the participants in this emerging new industry,” said aXpire’s founder and CEO, Gary Markham. “PayBX’s goal in life is to increase the use of cryptos as actual currency while also enabling an easier on-ramp and off-ramp experience for those simply wishing to HODL.”

In any case, it’s a service that’s to be considered, especially as cryptocurrencies grow in popularity and, respectively, in demand. More and more merchants are likely to open their avenues towards accepting digital assets as a means of payment, but even if they don’t, through an app like PayBX, it’s still possible to use them for everyday purchases.

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