Visa and Blockchain.com joined to provide a crypto visa card
Visa and Blockchain.com collaborate to provide a crypto debit card. Users of the Blockchain.com Visa will receive 1% back in cryptocurrency after using the card.
A new crypto-focused pre-paid Visa card has been launched which will initially be only available to United States residents, as announced by cryptocurrency company Blockchain.com. Wherever Visa debit cards are accepted, users can pay using their crypto or cash balances. The introduction of the cryptocurrency Visa card is powered by the California-based card issuing platform Marqeta. Around 50,000 customers have already signed up for the waitlist for the company’s new crypto payments card.
Users of the Blockchain.com Visa will receive 1% back in cryptocurrency whenever they use the card. In addition, according to Blockchain.com, there will be no sign-up or annual fees, and no transaction fees.
Blockchain.com has announced the release of a new cryptocurrency-loadable pre-paid Visa card, joining the ranks of companies like Crypto.com, Ripio, Bitso, Coinbase, Bitpay, Blockfi, and FTX. As announced recently that Blockchain.com Visa users will be able to use their crypto balances fee-free.
The launch of the Blockchain.com Visa card comes after the company signed a multi-year cooperation agreement with Dallas Cowboys quarterback Dak Prescott. The business previously signed a contract to become the Dallas Cowboys' "exclusive digital asset partner" in the middle of April. Cuy Sheffield, the president of Visa's cryptocurrency division highlighted that continued growth in crypto usage requires global approval after the news.
The card is powered by Marqeta, which helped develop the crypto visa card of crypto finance firm Swipe in September 2020. The declaration comes after Visa announced in October that it would roll out a debit card in 40 countries in partnership with crypto exchange FTX.
Other firm planning to launch crypto cards:
Recently, Mastercard the primary rival of Visa, agreed to a strategic alliance with BitOasis, the top cryptocurrency platform in the Middle East and North Africa (MENA). This deal was made to introduce a number of crypto card programs aiming to speed up the uptake of digital assets in the region. The BitOasis card will be launched early in 2023 and enable BitOasis customers to use Mastercard's global merchant network by converting crypto into fiat. Following BitOasis' $30 million Series B funding round that closed in October 2021, the company has entered into this partnership.
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