Visa and Startup Fold to Issue a Credit Card With Cashback in Bitcoin
Bitcoin receives support from Visa payment company, which joined the Fold startup to issue a credit card with a cashback in crypto, Bloomberg reports.
Fold CEO Will Reeves said that Bitcoin users will be credited with up to 10% of purchases made using Fold and Visa credit cards. He believes that this can attract a new wave of consumers to the most popular cryptocurrency in the world.
“People are not interested in spending Bitcoin right now, but are interested in accumulating it,” Reeves said in an interview. “If people don’t understand Bitcoin as money yet, they certainly will understand it as a better reward.”
Reeves said the card will be released in July. He declined to name the banks that support the card.
In February, the American cryptocurrency company Coinbase became a principal member of Visa. The company stated that this status made it “the first cryptocurrency company that was approved by Visa.”
Author: Marko Vidrih
Featured image credit: Foldapp.com/card