Blockchain.com and Visa have joined to offer a crypto card, initially only available to Americans, allowing users to pay using cryptocurrencies or cash at the places where debit cards and Visa are accepted, Cointelegraph stated.
According to Cointelegraph, blockchain.com announced on October 26 that there would be no yearly or sign-up costs, no transaction fees, and consumers would receive 1% of all purchases back in cryptocurrency.
Blockchain.com CEO Peter Smith claimed that 50,000 people had already signed up for the card in an interview with Yahoo Finance, noting, “There’s still a lot of demand for crypto products, but you’re seeing that demand shift away from trading and more towards folks that are interested in using DeFi, using their balances.”
Cuy Sheffield, the head of the cryptocurrency at Visa, noted that continued growth in crypto usage requires global approval after the news.
The card’s processor is California-based Marqeta, which also worked on the Swipe crypto visa card that will launch in September 2020. The declaration comes after information that Visa and cryptocurrency exchange FTX have teamed up to launch a debit card in 40 nations on October 7.
(With insights from Cointelegraph)
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