LONDON (Reuters] – The first crypto-backed credit card in the world, Nexo (crypto lender) announced Wednesday that Mastercard (NYSE.) has teamed up to create the new global payment company.

As digital assets gain more acceptance, this is the latest sign that crypto- and traditional financial networks are joining forces.

Nexo stated that the card is available initially in select European countries and allows customers to make purchases without the need to sell digital assets like bitcoins. These are collaterals to the credit given.

Traditional credit cards can be used unsecured or with a credit limit.

Nexo provided a crypto-backed credit card that can be linked to the card. It is available at over 92 million merchants around the world where Mastercard is accepted. Investors are able to spend as much as 90% of their crypto assets’ fiat values, Nexo stated.

The card does not require minimum monthly repayments or any inactivity fees. Nexo explained that there are no fees to exchange currency up to 20,000 euro per month.

The customer has no limit on how much they can withdraw or spend from their open credit line. Interest is paid only on credit used. For customers with less than 20% loan-to value ratios, interest rates remain at 0%

“Mastercard recognizes that digital assets are revolutionizing the financial landscape,” said Raj Dhamodharan, Mastercard’s head of crypto and blockchain products and partnerships.

Nexo’s electronic money company DiPocket issues cards.