Visa and BlockFi to launch Bitcoin rewards credit card as adoption grows

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Visa and BlockFi to launch Bitcoin rewards credit card as adoption grows

The new credit card will offer Bitcoin rewards rather than airline miles or cash.

Visa and BlockFi are teaming up to launch a new credit card that rewards users with Bitcoin (BTC), setting the stage for wider mainstream adoption of digital currency.

BlockFi, a New York-based startup specializing in crypto-backed loans and savings accounts, announced the partnership on Tuesday.

As Bloomberg reported, the new credit card will reward purchases with Bitcoin rather than airline miles or other cashback rewards. Cardholders will be eligible to receive 1.5% of their purchases back in BTC.

The card, which carries a $200 annual fee, will be issued by Evolve Bank & Trust.

Although the credit card will be available to the general public in early 2021, BlockFi account holders will be able to sign up beforehand.

Courtesy- Blockchain News

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