The following post was written and/or published as a collaboration between the Benzinga sponsored content team internally and Benzinga’s financial partner.
Cryptocurrency lending platform BlockFi has partnered with Visa company (NYSE:V) to launch a crypto rewards credit card for waitlisted US customers.
What happened: In yesterday’s announcement, the lending platform said the BlockFi Rewards Visa® Signature credit card will be available to the 400,000 customers who signed up for it in December 2020.
Cardholders will be able to earn 1.5% again Bitcoin (CRYPTO: BTC) on every purchase they make, and an additional 2% of Bitcoin on every dollar spent on $50,000 annually.
Once these rewards are redeemed, they are transferred to the user’s BlockFi interest account, where you will earn more interest in cryptocurrencies.
“Cryptocurrency rewards programs are a compelling way to engage consumers in the crypto economy,” said Terry Angelos, Senior Vice President and Global Head of Financial Technology at Visa.
“We are excited to see programs like the BlockFi Rewards Visa® Card, which provide relevant rewards to the growing community of cryptocurrency adopters.”
Crypto reward cards will also be accepted wherever Visa cards are accepted, giving holders special upgrades and travel opportunities.
Read also: The major US crypto exchange Gemini has launched a MasterCard credit card with rewards
“The crypto industry has come a long way since the first Bitcoin payment transaction 11 years ago,” said Florey Marques, co-founder and senior vice president of operations at BlockFi.
“Today, almost everyone knows the important role that cryptocurrency plays in reshaping the financial space, and our new credit card is set to be another game-changer. This card will make it easier for people to redeem Bitcoin while making daily purchases.”
Earlier this year, another payment giant MasterCard Corporation (NYSE:MA), has partnered with crypto exchange Gemini to launch a crypto rewards credit card that enables its holders to earn up to 3% on purchases.
Both BlockFi and Gemini crypto rewards cards do not charge an annual fee to their holders.
price movement: Bitcoin is trading at $34,596 at the time of writing, up 1.56% over the past 24 hours.
Visa shares were trading at $239, down 0.13% at press time.
Try to make money with BlockFi
The previous post was written and/or published as a collaboration between the Benzinga sponsored content team internally and Benzinga’s financial partner. Although the article is not and should not be construed as editorial content, the Sponsored Content team works to ensure that any and all information contained in it is true and accurate to the best of their knowledge and research. This content is for informational purposes only and is not intended as investment advice.