Blockchain.com launches Crypto Visa card with 1% cashback

In addition to launching its crypto-currency Visa card, powered by card issuing platform Marqeta, Blockchain.com Visa card users will earn 1% in crypto-currency every time they spend funds using the card.

Blockchain.com introduces its crypto-currency Visa card

Blockchain.com joins Crypto.com, Ripio, Binance, Coinbase, Bitpay, Blockfi and FTX in announcing the launch of a new crypto-currency reloadable prepaid Visa card. According to Wednesday’s announcement, users of the Blockchain.com Visa card can “spend from a crypto balance without a fee and offer the opportunity to earn crypto rewards..”

In addition, 50,000 registered users have already signed up for the company’s new crypto payment card. “As one of the oldest and most trusted platforms in the crypto currency industry, we’re excited to roll out the next natural step in making crypto currency easy to use in the real world and accessible to as many people as possible“, said Peter Smith, CEO of Blockchain.com, in a statement.

Peter Smith added:

This is a great example of the impact of digital assets on the current financial services industry as we shape the future of (mainstream) finance.

At Wednesday’s announcement, Cuy Sheffield, head of Visa’s crypto unit, explained that the payments giant believes that for crypto adoption to continue, traditional financial solutions like cards help support the effort.

“At Visa, we believe that for the adoption of crypto-currencies to grow, it is essential that they are readily accepted everywhere“, said Cuy Sheffield in a statement. “We are excited to partner with leading crypto wallets and exchanges like Blockchain.com to unlock more ways for consumers to use their crypto for everyday purchases.“