TokenCard is a debit card payment platform that lets users instantly convert their cryptocurrency coins or tokens into fiat and make payments. The smart contract-powered system allows users to use their TokenCard debit card like any other debit card. This card is connected to their TokenCard cryptocurrency wallet (which exists on the TokenCard mobile app), where users can deposit and store their coins or tokens, manage balances, view transaction history, and more. Transactions are made through a Proof-of-Stake consensus payment framework, meaning that they’re near-instant and cheap. Users only pay a 1% licensing fee for TokenCard transactions (excluding fees imposed by third parties).
TokenCard (TKN) is the ERC20 token that is used to pay the 1% licensing fee and can be used to make payments.