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- Brex partners with TravelBank to launch a crypto rewards program
- Will allow users to set the amount of redeeming points that they want to convert to crypto
- Brex’s new crypto offering reward program could potentially set it apart from its peers in the market
According to Forbes, Brex is partnering with TravelBank to launch brand new crypto rewards. Brex is an all-in-one finance solution for all kinds of growing businesses.
Customers can Redeem Points for Bitcoin or Ether
A month ago, in a series D funding led by Tiger Global, Brex raised a whopping $425 million. By the end of the funding series, Brex was valued at $7.4 billion. However, as the new crypto rewards program rolls out, its customers will redeem it for Bitcoin and Ether. Its notable customers include Airbnb, and Classpass, a subscription service that provides access to several fitness studios, and the startup enhancer, Y Combinator.
Crypto Will be Directly Transferred to Customer’s Wallet
TravelBank, the reward partner, will help Brex bolster the zero-fee rewards program. This program will allow users to set the amount of redeeming points they want to convert to crypto. The crypto will be then transferred directly to the user’s wallet. Henrique Dubugras, co-CEO, and founder at Brex said that the company has always believed in the potential of cryptocurrency. He mentioned the ‘watershed moment’ for them was when giants like Tesla, Square started buying large shares of cryptocurrency.
Brex’s new crypto offering reward program could potentially set it apart from its peers in the market. However, this idea has widely been utilized by crypto companies on a large scale. Crypto giants like BlockFi, Crypto.com, and Gemini have already announced crypto rewards for their debit and credit card services. However, the co-CEO believes that Brex’s position in the market as a non-crypto company will make the program a success.
Vaishali
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
