A competitor to similar products from FTX and BitOasis, the crypto debit card from Blockchain.com has 50,000 customers on its waiting list
Crypto exchange Blockchain.com cooperates with Visa to launch a crypto card. Initially, it would be available to U.S. residents only.
The new product allows paying with both crypto and cash balances wherever Visa debit cards are accepted. Besides, the cardholders would earn 1% of all purchases back in crypto.
As for the fees, those are practically zero. In particular, there would be no sign-up or annual fees. Transaction fees are also absent.
The card is fueled by California-based payments company Marqeta. There are already 50,000 customers registered on the card waiting list.
Earlier this month, two similar products from BitOasis and FTX were announced. While the latter also partnered with Visa for a crypto debit card, BitOasis teamed up with Mastercard to facilitate cryptocurrency payments at e-commerce platforms and physical stores.
Blockchain.com CEO, Peter Smith has noted that customer demand for crypto products is shifting from trading to DeFi. At the same time, Visa’s head of crypto, Cuy Sheffield, pointed out that worldwide acceptance is necessary for crypto adoption to grow.