Blockchain.com launches 1% cashback debit card

Exchanges cryptocurrency Blockchain.com has just launched its Visa debit card, a cashback product for all spending transactions.

Specifically, the newly launched product of Blockchain.com will refund 1% in crypto for each purchase to encourage public use.

Introducing the https://t.co/0DZyULavbV Visa® Card.

✅ Spend your crypto or cash without fees
✅ Use it anywhere Visa® debit cards are accepted
✅ Earn 1% back in crypto on all purchases

Join the waitlist todayhttps://t.co/JB9NxcePfS pic.twitter.com/ftLck1dmYz

— Blockchain.com (@blockchain) October 26, 2022

The card allows users to pay with cryptocurrency or fiat currency. In addition, the platform will not charge subscription fees or recurring fees.

Now available 50,000 queues waiting to make cards, the company said. But initially the product only served the US market and will be expanded to deploy globally from 2023.

Cuy Sheffield, Head of Cryptocurrency at Visa said:

“At Visa, we believe crypto adoption will grow, it's important that it be easily accepted everywhere. We are excited to partner with leading crypto wallets and exchanges like Blockchain.com to open up more ways that consumers can use their crypto to shop on a daily basis.”

Before that, other crypto companies have also launched similar products, for example, Binance, FTX, Coinbase and BlockFi.