PayBX aims to take a different approach to mainstream crypto payments, avoiding the need for another card in a user’s wallet. There’s no PayBX debit card. Instead, users can connect their existing bank-issued cards, both debit, and credit, into the application. Then, whenever a transaction is made using that card, PayBX will recognize it — and if enabled — will sell an equivalent portion in crypto and deposit this into the user’s bank to cover the cost of the transactions.
PayBX is a custodial wallet as the crypto community requires both decentralized and more centralized options for true adoption. PayBX enables its users to spend the value of their digital assets through pre-existing debit cards, linked to the payments application through API. Rather than traders requiring a new debit card for their wallets, PayBX enables them to spend cryptocurrencies as FIAT by simply using a regular bank-issued debit card. Whenever a transaction is made, PayBX recognizes it and the equivalent amount in crypto can be sold to cover the FIAT value of the transaction, deposited into the users’ bank account.