A British cryptocurrency exchange is launching a Visa card that it says will allow users to spend their bitcoin savings. London Block Exchange (LBX), a newly-launched website that will allow users to buy and sell cryptocurrencies, plans to launch a spending card in the coming weeks that will convert their holdings in bitcoin and other virtual currencies to pounds and let them spend it on the high street."When a shopper spends money with the card, LBX will pay the retailer in pounds and recoup the money from the shopper's online wallet, converting one of the cryptocurrencies they hold into pounds, charging a 0.5 per cent fee. Other firms have attempted to launch bitcoin-based cards but LBX is the first to convert the cryptocurrency to pounds, and has been provisionally approved by the Financial Conduct Authority, the UK's financial regulator. It has received £2m in funding and is chaired by Adam Bryant, a long-time Credit Suisse banker who ran the Swiss bank's macro h
News and information blog