One of the world's leading payment service providers, Visa, in collaboration with crypto-focusedBlockFi, a new credit card with cashback support in bitcoin.BlockFi announced this in its official blog.
New card called BlockFi Bitcoin RewardsThe Credit Card will award 1.5% cashback after each transaction by converting bonus dollars into Bitcoin. BlockFi claims that the new credit card has the highest interest rate among competitors on the market.
"We are happy to add credit cards to our products and expand access to bitcoin for a wide range of consumers""I.K., CEO and founder of BlockFi, said.
The card will be available in early 2021 and only in the U.S.However, the company also intends to expand support for the map in other regions.
The engine of progress
Visa has been actively working on integration for a long timeits services in the cryptocurrency market. For example, in May, the head of the payment provider Alfred Kelly publicly called cryptocurrencies a useful addition to the traditional payment system.
Then, at a technology conference hosted by JP Morgan, the head of Visa said that although cryptocurrencies are not competitors for fiat, they canto be an addition to the traditional payment system.
Visa's special interest in the digital financial asset market is also driven by competition supported by another giant, Mastercard.
In July, Mastercard announced the launch of the programto popularize cryptocurrency projects. The company stated that it intends to issue special debit cards that allow you to convert cryptocurrencies into fiat money and pay with them anywhere in the world, provided that the terminal is connected to the Mastercard system.
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