Revolutionizing Rewards: A New Kind of Credit Card
In a world where earning airline miles sometimes feels more like a scavenger hunt than a perk, BlockFi and Visa are flipping the traditional credit card rewards game on its head. Say goodbye to the banalities of cashback and hello to the promise of Bitcoin (BTC) rewards. That’s right; if you’re going to splurge on that new gadget, why not earn some crypto instead?
The Deets You Need to Know
Set to launch early in 2021, this shiny new credit card will reward users with a neat 1.5% back in Bitcoin on purchases. To kick things off, credit card aficionados will need to pay a modest annual fee of $200. Not too shabby when you think about getting paid in cryptocurrency. Evolve Bank & Trust is stepping up to discharge this gem of a card, ensuring your crypto rewards are right as rain.
Why BlockFi is Excited
BlockFi, the plucky New York startup known for its crypto-backed loans and savings accounts, is genuinely “excited,” according to its CEO, Zac Prince. The strapline for their venture? Expanding Bitcoin’s accessibility to everyone. What’s not to like about taking the leap from regular plastic to a card that makes you feel you’re part of a digital revolution?
Visa’s Crypto Journey: A Match Made in Fintech Heaven
This collaboration is part of Visa’s Fintech Fast Track Program, designed to help innovative companies join the credit card network and scale operations efficiently. Terry Angelos, Visa’s senior VP, summed it up perfectly: it’s all about enhancing their commitment to staying ahead in the payments game. And clearly, they’re taking the crypto route seriously—more than 25 cryptocurrency wallets are currently plugged into Visa’s systems!
From Skepticism to Support: Visa’s Crypto Conversion
Visa has undergone a transformation regarding its attitude towards digital currencies. Gone are the days of caution and skepticism. Instead, they’ve embraced a vision of positive adoption, smartly positioning themselves in the evolving landscape of cryptocurrency. They’re not just content to ride the digital wave; Visa is also at the regulatory table, working with global leaders to shape frameworks for central bank digital currencies. It’s like they’re both surfing and building the surfboards—truly impressive!
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