Blockchain.com join hands with Visa to offer crypto debit card

• Blockchain.com revealed that there would be no sign-up fees
• They also mentioned that there will be annual fees or transaction fees 
• Users would earn 1% of all purchases back in crypto

Blockchain.com, a cryptocurrency exchange, has launched a crypto card with Visa. At first, only residents of the United States can use it to pay for goods and services wherever Visa debit cards are accepted.

Blockchain.com announced on October 26 that there would be no annual or sign-up fees, no transaction fees, and users would receive 1% of all purchases back in cryptocurrencies.

In an interview with Yahoo Finance, Blockchain.com CEO Peter Smith stated that 50,000 people had already signed up for a waiting list for the card, noting that there is still a lot of demand for crypto products, but you are seeing that demand shift away from trading and more toward people who are interested in using DeFi and using their balances,” according to the author.

Cuy Sheffield, the head of the cryptocurrency at Visa, made the point after the announcement that global acceptance is necessary for crypto adoption to continue growing.

ALSO READ: Algorand Hits New ATH, DeFi TVL Finally Recovers

 Visa has partnered with crypto exchange FTX to roll out a debit card to 40 countries 

Marqeta, a California-based payments company that helped develop Swipe’s crypto visa card in September 2020, powers the card.

The announcement comes in response to the news that on October 7, Visa and crypto exchange FTX will launch a debit card to 40 countries.

BitOasis, the leading cryptocurrency platform in the Middle East and North Africa (MENA), and MasterCard, Visa’s main competitor, signed a strategic partnership on Oct. 25 to launch a series of crypto card programs designed to facilitate the adoption of digital assets in the region.

Customers of BitOasis will be able to connect the new card to their wallets and convert crypto to fiat in order to use Mastercard’s global merchant network. The card is expected to be available in early 2023.

The partnership comes after BitOasis closed its $30 million Series B funding round in October 2021. The company’s Dubai-based platform was able to expand into MENA with the help of the funding.

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Andrew Smith

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing

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