Crypto exchange Blockchain.com has announced a partnership with payments company Visa to launch a crypto card. Only US buyers will currently be able to buy the card. Next year, there are plans to expand the offering to European customers.
Wherever Visa debit cards are accepted, users of the crypto card will be able to make purchases using their crypto or cash balance. According to Blockchain.com, 50,000 people on the waitlist want to sign up.
The company shared the waitlist link and announced the relationship on Twitter. According to the company’s tweet, there would be no sign-up, yearly, or transaction fees, and users would receive 1% of all purchases back in cryptocurrency.
The crypto card will be issued by Marqeta, a California-based payments company, which powered crypto finance firm Swipe’s Visa card in September 2020.
Visa also accepts cards from crypto companies such as Coinbase and Binance. In the first week of October, Visa and the crypto exchange FTX collaborated to sell crypto debit cards in 40 countries, including those in Latin America, Asia, and Europe.
Other global payment giants like Visa want to integrate crypto into their payment networks. As part of its introduction of Crypto Source, Mastercard last week announced its collaboration with crypto trading platform Paxos.