Interview: Bitcoin Adoption With Quontic Bank

Steven Schnall of Quontic Bank joined the "Bitcoin Magazine Podcast" to discuss a new bitcoin-back debit card and banking adoption of Bitcoin.
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This week for the "Bitcoin Magazine Podcast," host Christian Keroles sat down with CEO of Quontic Bank Steven Schnall to discuss Quontic's recent move to offer a bitcoin-back debit card. The bitcoin-back debit card offer users 1.5 percent cash back on their purchases in the form of bitcoin. This represents Quontic's first official cryptocurrency product and a massive step for Bitcoin's financialization as Quontic is firmly a legacy banking institution.

Schnall and Keroles discussed Quontic's history and mission-driven purpose, as well as Schnall's personal adventures mining cryptocurrency and buying bitcoin many years ago. Schnall believes that Bitcoin is a new economic paradigm and that every financial institution will begin offering Bitcoin-related product in the coming decade.

The two also discussed the following topics:

  • Schnall's Bitcoin history
  • Why Quontic was created
  • Quontic Bank's mission-oriented business
  • Evolutions in bitcoin custody
  • Bitcoin as a hard money
  • Creating the bitcoin-back debit card product
  • What is next for Quontic Bank and Bitcoin