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Credit card company Visa just announced it will work with Circle Internet Financial for USDC. Earlier this week, Visa announced a partnership with BlockFi to offer a Bitcoin Rewards credit card offering 1.5% of rewarded purchases as Bitcoin. It’s almost as if Visa has accepted the idea that cryptocurrency is the way of the future and the company wants to go into business before finding their own struggling business to recover.
On December 1, 2020, Visa and BlockFi announced a Bitcoin Rewards credit card. Visa Bitcoin Rewards credit card will offer 1.5% of purchases as a reward for purchases and a lump sum of $ 250 in Bitcoin for users who spend more than $ 3k in the first three months after activating said card . The card will be issued by Evolve Bank & Trust and will have an annual fee of $ 200.
Check out the BlockFi website to learn more about that particular cryptocurrency card and system. There is currently a waiting list.
The other news from Visa this week is their partnership with Circle Internet Financial to integrate USDC into the Visa network. This is USDC, US Dollar Coin, not to be confused with our standard USD. The USDC cryptocurrency is based on the Ethereum blockchain and is currently valued at around $ 2.9 billion.
Circle is working with Visa to “help select Visa credit card issuers begin integrating USDC software into their platforms,” according to Forbes this afternoon.
In October 2020, Visa joined forces with Coinbase to offer the Coinbase Visa card. This card allows users to “spend digital assets wherever Visa is accepted”. If you look back to November 2015, you’ll see Visa working with Shift Payments to enable a Bitcoin debit card.
“We continue to think of Visa as a network of networks. Blockchain networks and stablecoins, like USDC, are just add-on networks. “Said Cuy Sheffield, Visa head of Crypto.” So we think there is significant value Visa can provide to our customers by allowing them to access and empowering them. to spend with our dealers “.
