New York-based cryptocurrency lender Block-Fi has introduced a new ‘payment’ option to its lists of products and services as per their announcement yesterday where it mentioned collaborating with the payment service Visa INC and is about to launch its first-ever Bitcoin rewards credit card, which will reflect soon in the coming year, 2021.
This new system’s main focus assures a 1.5% cashback policy on every purchase, unlike the traditional credit card purchases, making Block-Fi a rising medium in this surging demand for cryptocurrency.
Block Fi founder and CEO Zac Prince puts focus on making it an expansive platform amongst consumers, where the credit cardholders will now be able to easily grow their Bitcoin. It will also persuade the customers for everyday spending without stacking up on excessive debts. However, the ongoing process for enabling Crypto to pay their debts is still being processed by Block-Fi.
Being a part of Visa’s Fintech Fast-Track Program, this is not the first collaboration with Block-Fi. As per Senior VP and Head of Fintech at Visa, Terry Angelos, it “aims to speed up the process of integrating and help innovative companies scale with efficiency’.
Those interested in this system are already the account holder of Block-fi and will be able to purchase this new credit card by registering and joining the priority list. However, for the general public, this option will be open for registration from January onwards in the coming year.