Blockchain.com partners with Visa and introduces a crypto debit card.
The users will be able to pay with cryptocurrency or fiat balances with the Visa debit card.
Blockchain.com, the leading cryptocurrency trading platform to launch a Visa debit card. According to the recent announcement from the exchange, it has partnered with the U.S financial services company, Visa, to offer a crypto-based debit card. The new collaboration will enable the users to pay with crypto or fiat currencies wherever the visa debit cards are accepted.
As per the tweet from Blockchain.com, the users will be able to use their crypto or cash balances without incurring any fees within the exchanges’ wallets. The platform also disclosed that the users will receive 1% of all purchases back in crypto.
Furtherly, the Visa card provides the benefit of no sign-up, card issuance, or annual fee. U.S citizens will be the first to have access to the debit card. However, it will be accessible in other countries by the beginning of next year.
Visa Access Crypto Benefits
The crypto debit card is powered by Marqeta, a payments service based in California.
Cuy Sheffield, head of Crypto at Visa, stated:
At Visa, we believe for crypto adoption to grow, it’s critical for it to be easily accepted everywhere. We’re excited to partner with leading crypto wallets and exchanges like Blockchain.com to unlock more ways consumers can use their crypto for everyday purchases.
At the same time, Peter Smith the CEO of Blockchain.com revealed that over 50,000 people have already signed up for the card’s waiting list.
Peter Smith added:
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.
Moreover, the multinational company, Visa partnered with crypto exchange FTX earlier this month to launch a debit card in 40 countries.