Cryptocurrency exchange Blockchain.com has partnered with Visa to launch a crypto card, initially available only to US residents. This allows users to pay with their crypto or cash balance anywhere Visa debit cards are accepted.
Blockchain.com announced on October 26 that there would be no sign-up or annual fees, no transaction fees, and users would earn 1% of all purchases back in cryptocurrency.
Blockchain.com CEO Peter Smith stated in a Yahoo Finance interview that the card already has 50,000 people on a waiting list.
Following the announcement, Cuy Sheffield, Visa’s head of crypto, stated that global acceptance is required for crypto adoption to continue to grow.
The card is powered by California-based payments company Marqeta, which collaborated on the development of Swipe’s crypto visa card, which will be available in September 2020.
The announcement comes after Visa announced a partnership with crypto exchange FTX to launch a debit card in 40 countries on October 7.