and Visa To Release A Crypto Debit Card has recently announced that they are partnering with Visa to launch a crypto debit card. This debit will allow the users to use the debit card to pay for goods and services with direct crypto or cash at any outlet which accepts the Visa debit card. announced on October 26 that there would be no yearly or sign-up costs, no transaction fees, and consumers would receive 1% of all purchases back in cryptocurrency. CEO Peter Smith in an interview with Yahoo Finance announced that 50,000 people have already signed up for the card’s waiting list. He also added that

“There’s still a lot of demand for crypto products, but you’re seeing that demand shift away from trading and more towards folks that are interested in using DeFi, using their balances.”

On this announcement Visa’s Head of Crypto, Cuy Sheffield responded “worldwide acceptance is necessary for crypto adoption to continue to grow”. The card’s processor is California-based Marqeta, which also worked on the Swipe crypto visa card that was launched in September 2020.

The declaration comes after information that Visa and cryptocurrency exchange FTX have teamed up to launch a debit card in 40 nations on October 7.

Visa’s competitor MasterCard partners with BitOasis

At the same time, a similar platform also partnered with a big brand to provide better crypto services. On October 25, Mastercard, the primary rival of Visa, agreed to a strategic partnership with BitOasis, the top cryptocurrency platform in the Middle East and North Africa (MENA), to introduce a number of crypto card programs intended to speed up the uptake of digital assets in the region.

Customers of BitOasis will be able to connect their wallets to the new card and exchange cryptocurrency for fiat to use Mastercard’s extensive merchant network once it launches in early 2023. On this collaboration the co-founder and CEO of BitOasis, Ola Doudin said: –

“We continue to witness sustained demand amongst our customers for crypto to be integrated into, and relevant, for their daily lives. Research tells us that 47% of the Middle East population now believe crypto is the future of money.”

The collaboration comes after BitOasis completed a $30 million Series B fundraising round in October 2021. The money made it possible for its platform, which is based in Dubai, to grow throughout MENA.

Day by day more and more fitch related platforms are invested in cryptocurrency, even though the crypto market is down for a long now but the growth in the adoption of crypto is good news for all crypto users.

For more content related to cryptocurrency, check-out Suncrypto Academy.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. All content provided is for informational purposes only, and shall not be relied upon as financial/investment advice. Opinions shared, if any, are only shared for information and education purposes. Although the best efforts have been made to ensure all information is accurate and up to date. Occasionally unintended errors or misprints may occur. We recommend you to please do your own research or consult an expert before making any investment decision. You may write to us at [email protected].

Leave a Comment

Related Posts

Hong Kong Approves First Spot Bitcoin and Ethereum ETFs

Hong Kong Approves First Spot Bitcoin and Ethereum ETFs

In a groundbreaking move, Hong Kong’s securities regulator has given the green light to several

Crypto Highlights of the Week

Crypto Highlights of the Week | 15 April 2024

The events of the previous week sparked a negative feeling in the crypto community, and

Bitcoin ETF

How Wealthy Indians Are Attracting Towards Bitcoin ETF?

India is a country known mostly for two things: its cuisine and the number of