A London startup is launching a debit card that lets you spend bitcoin and ethereum

A London-startup headed by a Credit Suisse veteran is launching a new debit card that it claims will allow people to spend cryptocurrencies across the UK.

The London Block Exchange (LBX) launched on Tuesday. It plans to launch a sterling-to-cryptocurrency exchange and a prepaid Visa debit card, dubbed "Dragoncard," that will allow people to convert bitcoin, ethereum, ripple, litecoin and monero to sterling and spend it across the UK. The startup plans to add more cryptocurrencies in future.