Blockchain.com to issue a cryptocurrency card in partnership with Visa

Blockchain.com will issue a debit card for payments in cryptocurrencies. The platform’s users will be able to pay with digital currencies anywhere in the world where Visa cards are supported.

The new financial product will first be available to US residents, followed by Blockchain.com customers from other countries. In order to order the card, no taxes or fees are required, and there are no service or transaction fees. Instead, users will receive 1% cashback in cryptocurrency for any purchases.

According to Blockchain.com CEO Peter Smith, the company already has more than 50,000 applications for the new card. «There is a great demand for cryptocurrency products. It’s just that it’s shifting from demand for digital asset trading services to interest in DeFi products and the use of cryptocurrencies in everyday life.»

Smith was supported by Kai Sheffield, Head of Digital Assets at Visa. He emphasized that the ability to use cryptocurrencies anywhere in the world is necessary for the global adoption of virtual assets.

In early October, Visa announced a plan to launch cryptocurrency cards in 40 countries in partnership with the FTX crypto exchange. It is expected that residents of Spanish- and Portuguese-speaking countries in the Americas will be the first to receive FTX cards, followed by Europe by the end of 2022, and Asia later.