I don't think I'd want to place coins on a card like this. What would the benefit of this be instead of just converting the coins to fiat?
I don't think you would have to place your coins on the card. It's just another avenue to spend bitcoins. For instance you don't literally place fiat on your bank's debit card because it's connected to your bank account thereby giving you an additional way to access your bank account. What I am simply saying is, a Bitcoin Debit Card can be an additional and instant way to access your Bitcoin Wallet.
Believe Xapo incorporates Multisig on their Xapo Vault service, but not sure if it's in their Xapo Wallet/Debit Card service:
https://blog.xapo.com/xapo-launches-suite-of-new-security-features-announces-xapo-vault-now-free-of-charge/