One of the top crypto exchanges in the world, Blockchain.com, has combined with payment gateway giant Visa to release a cryptocurrency card.
But it will first be available to only United States citizens, which gives users access to pay using their cryptocurrency or fiat money anywhere Visa cards are accepted.
Blockchain.com revealed that sign-ups or annual fees wouldn’t be included. But users can earn 1% of all purchases back in crypto.
During an interview with Yahoo Finance, Blockchain.com chief executive officer Peter Smith stated that the card already had 50,000 users approved on a waiting list.
He said: “There are still many demands for crypto products and services, but the demand seems to be away from just trading the market, and more people are interested in making use of decentralized finance, using their balance.”
Visa cards head of crypto, Cuy Sheffield, added that the whole world’s acceptance of the card is vital for crypto market adoption to keep growing. Meanwhile, California-based payments company Marqeta is powering the card.
The company has already helped develop cryptocurrency firm Swipe’s crypto Visa card in September 2020. The announcement is coming after Visa partnered with Cryptocurrency exchange FTX to launch a debit card to over 35 countries at the beginning of this month.
MasterCard Partners With BitOasis
Visa’s main competitor in the payment industry, Mastercard, has also approved a strategic partnership with BitOasis, a top crypto firm in the Middle East and North Africa (MENA).
BitOasis users can link their wallet addresses to the new card and change crypto into cash. In addition, they can leverage Mastercard’s global merchant network, with the card expected to launch at the beginning of next year.
Ola Doudin, the co-founder and chief executive officer of BitOasis, expects a significant result for adopting crypto and other digital assets within that region.
While reacting to the new development, Doudi said, “We keep seeing sustainable demand amongst our users for crypto to be combined into and made important for their regular lives. Based on research, 47% of the Middle East population now see cryptocurrency as money for the future.”
The strategic partnership comes after a $30 million Series B funding round from BitOasis in October 2021. The Series B funding helped develop its Dubai-based platform in the Middle East and North Africa (MENA).
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