Coca, which provides cryptocurrency wallets, has collaborated with Wirex, a money app and card provider, to launch what the partnership claims is the world’s first multi-party computation (MPC) wallet with a linked non-custodial debit card.

The product uses MPC technology which allows multiple parties to access an account without revealing private information or secret data held by each party.

The FinTechs said that the collaboration will allow users to spend their cryptocurrency securely at around 40 million merchants around the world.

The debit card can be virtual or physical and enables direct crypto transactions without the need for preloading.

The companies added that they will add an IBAN feature to enable users to make transactions in euros and access banking services to bridge the gap between digital and traditional banking.

Commenting on the news Pavel Matveev, chief executive and co-founder of Wirex said: "Wirex has always been committed to pioneering on-chain interactions. Collaborating with COCA to introduce this advanced non-custodial card technology is a stride towards our vision. This partnership is a big step in changing how we think about finance, blending the best of digital and traditional approaches."

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