MaskEX, a rapidly expanding third-generation cryptocurrency exchange headquartered in Dubai, has announced the launch of its crypto-backed Virtual Card, allowing users to spend digital assets as fiat across more than 176 countries and over 50 million merchants worldwide. The new feature is now available to all ID-verified MaskEX users.
Bridging Crypto and Everyday Payments
“We are excited to offer our users the ability to spend their crypto wherever and whenever they want with the launch of the MaskEX Virtual Card,” said Eric Yang, CEO of MaskEX. “Our vision is to make crypto more accessible and find ways to integrate crypto more with people’s everyday lives.” The virtual card represents a significant move toward real-world crypto adoption, enabling seamless conversion between digital assets and fiat currency at point-of-sale terminals and online checkout systems globally.
Industry Veteran Joins to Drive Global Growth
MaskEX has also appointed Ben Caselin, former Head of Research and Strategy at Hong Kong-based crypto exchange AAX, as Vice President. With nearly four years at AAX, Caselin played a pivotal role in promoting Bitcoin and digital assets adoption in emerging markets. At MaskEX, he will oversee all global and localized marketing, communications, and business development initiatives.
“We are delighted to be joined by Ben Caselin, not only because we believe he can play a vital role in our global expansion efforts, but also because of the terrible situation he witnessed up close at AAX following the collapse of FTX in late 2022,” said Eric Yang. “As we have observed, he puts users before business, and we have specifically asked him to be uncompromising and closely scrutinize our operations.”
Caselin added: “While the industry is still suffering from contagion and a severe lack of investor confidence, we cannot afford to give up now. At this stage in the development of this nascent industry, properly managed centralized exchanges can still play an important role in raising awareness around digital assets, providing a point of contact for regulators, cooperating with the existing banking sector and payment providers to accelerate integration, and driving the mainstream uptake of Bitcoin and digital assets everywhere.”
Proof-of-Reserves and Sovereign Wealth Backing
Positioning itself as a third-generation exchange, MaskEX is one of only 18 centralized exchanges globally that provide Proof-of-Reserves. Additionally, Abu Dhabi’s Sovereign Wealth Fund, under Sheikh Hamad Rakadh Salem Hamad Alameri, is a major stakeholder. “We know we are in a very good place to compete with the world’s biggest trading platforms,” said Yang.
About MaskEX
Headquartered in Dubai, UAE, MaskEX is a third-generation centralized crypto exchange founded in 2021 that aims to provide easy and secure access to digital assets. With a user-friendly interface, advanced trading tools, over 300 spot pairs, deeply liquid futures markets, and a range of on- and off-ramp products, the exchange serves more than one million users globally. MaskEX is committed to promoting digital asset adoption and building a more inclusive economy for all smart cities and their citizens.