Share this article
ATM Maker Diamond Circle to Launch Bitcoin Debit Card
The company has announced it will launch the card this week at the 2014 Bitcoin Conference in Amsterdam.
Updated Mar 6, 2023, 3:03 p.m. Published May 12, 2014, 4:04 p.m.
Bitcoin ATM maker Diamond Circle has announced it will launch a bitcoin debit card this week at the Bitcoin 2014 Conference in Amsterdam, in conjunction with its UK distributor Swiftbitz.
Diamond Circle claims the card will only work with its own two-way, cashless bitcoin ATM, its forthcoming merchant point-of-sale (POS) solution and via its online exchange.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
This is a contrast to other bitcoin debit cards tied to established card payment networks like UnionPay, which can be accepted in a majority of outlets without the merchant possessing any bitcoin-specific technology.
The debit cards utilize contactless near-field communication (NFC) technology and will be issued via Diamond Circle's ATM operators, retail merchants, independent distributors and on the company’s website.
Furthermore, the cards will be linked to the user's wallet and may hold up to nine fiat currencies as well as bitcoin.
The bitcoin exchange rate incurred with transactions will be based on prevailing market rates at the time of use, the company says.
Closed ecosystem
, which based in Australia, is currently developing a range of devices that promote easy access and secure storage for bitcoin users. This includes the ATM machines mentioned previously, POS card/wallet readers for merchants, and a variety of bitcoin hardware wallets in the form of NFC discs and cellphone 'stickers'.
While it may seem disadvantageous to produce a debit card that cannot be used over mainstream payments systems, with the right infrastructure Diamond Circle could have a hand in all major aspects of the bitcoin economy: purchasing, spending, sending and selling.
'Holy Grail'
The ATM was launched in March, with the company saying it had created one of bitcoin’s holy grails – a cashless ATM that allows bitcoins to be purchased using a credit card, and sold via a direct deposit to users' bank accounts.
Unlike competing ATMs and vending machines that rely on QR codes and cash, Diamond Circle’s solution is based on NFC technology with paper receipt backups. Anti-money laundering (AML) and 'know your customer' procedures can be set up as required by the local regulatory environment.
The company's partner Swiftbitz has been recently created to take over UK distribution of the ATM, which costs $16,000 (around £9,300 or €11,100). European distribution should follow soon.
Diamond Circle's debit card is to be launched at the Bitcoin 2014 Conference, which takes place 15th-17th May in the Dutch capital.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Federal Reserve Cuts Rates 25 Basis Points, With Two Voting for Steady Policy
The anticipated move comes as policymakers are still operating without several key economic data releases that remain delayed or suspended due to the U.S. government shutdown.
What to know:
- As expected, the Federal Reserve trimmed its benchmark fed funds rate range by 25 basis points on Wednesday afternoon.
- Today's cut is notable given the unusually large amount of public dissension among Fed members for further monetary ease.
- Two Fed members dissented from the rate cut, preferring instead to hold rates steady, while one member voted for a 50 basis point rate cut.
Top Stories
