Blockchain.com introduces a Visa debit card that allows users to pay with crypto
Blockchain.com, a recognized and trusted platform for buying, selling and trading crypto, has recently announced its Visa Debit Card. The introduction of this debit card has been awaited for quite some time now.
The Blockchain.com Visa card has a huge waiting list of 50,000 people who want to sign up.
The card is already at launch. The debit card will allow users to pay with digital currency or fiat balance.
It will initially be made available to people living in the United States. Users will be able to use their crypto or fiat money in the Blockchain.com wallet without incurring any fees.
Additionally, users will get 1% back in crypto wherever Visa Debit Card transactions are available.
The card will also be launched in other countries at the beginning of next year.
Cuy Sheffield, Head of Crypto at Visa, mentioned,
At Visa, we believe that for crypto adoption to grow, it is crucial that it be easily accepted everywhere. We are excited to partner with leading crypto wallets and exchanges like Blockchain.com to unlock more ways for consumers to use their crypto for everyday purchases.
Make Crypto more accessible
Visa’s payment network and Marqeta, the modern card issuing platform, and the exchange platform Blockchain.com offer this Visa card a benefit without registration, card issuance or annual fee.
Marqeta’s 2022 State of Money Movement research found that 38% of US consumers said they own digital assets.
This has been an important finding as it highlights the need to make digital assets usable for everyday transactions.
Close to 93% of digital asset owners mentioned in the survey that they hold crypto just like an asset.
There is only a significant increase in demand among consumers to use the asset as a currency for exchange primarily.
Peter Smithsaid Blockchain.com CEO and Co-Founder,
As one of the crypto industry’s oldest and most trusted platforms, we’re excited to roll out the natural next step in making crypto easy to use in the real world and accessible to as many people as possible. This is a good example of digital assets leaving their mark on the existing financial industry, as we shape the future of (mainstream) finance.
Features of the newly introduced Visa Debit Card
Marqeta’s Just-In-Time Funding feature will now allow Blockchain.com users to use their available digital currency balance to transact with fiat currency.
Each of these Blockchain.com Visa cards will have a link to a verified Blockchain.com Wallet account.
After this, users will be able to use their digital assets or fiat currency to pay online for goods and services at US merchants that accept Visa debit cards.
Simon KhalafChief Product Officer at Marqeta, quoted,
Blockchain.com is one of the most dynamic crypto companies on the market today, and we see tremendous DNA alignment in this new partnership.
Blockchain.com has built a massive user base and we are proud that our platform can enable their customers to spend money against their cryptocurrency wallet at the point of sale, using the magic of Just-in-Time funding.
Blockchain.com’s new Visa card is a textbook example of the potential of Marqeta’s technology, and we look forward to working together to build innovative products like this as crypto evolves in the coming years.
