The credit card company Visa has just announced that 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 that offers 1.5% of Bitcoin-winning purchases. It is almost as if Visa has accepted the idea that cryptocurrency is the way of the future, and the company wants to get into the business before finding its business struggling to keep up.
On December 1, 2020, Visa and BlockFi announced a Bitcoin Rewards credit card. The Visa Bitcoin Rewards credit card will offer 1.5% of purchases as a reward for purchases, as well as a fixed amount of $ 250 in Bitcoin for users who spend more than $ 3k in the first three months after activating that card. The card will be issued by Evolve Bank & Trust and will have an annual fee of $ 200.
Take a look at the BlockFi website to learn more about that particular system and cryptocurrency card. There is a waiting list at the moment.
The other news this week from Visa is its partnership with Circle Internet Financial to integrate USDC into the Visa network. This is USDC, the US dollar currency, which should not be confused with our standard USD. The USDC cryptocurrency is based on the Ethereum blockchain and is currently valued at approximately $ 2.9 billion dollars.
Circle is working with Visa to “help select Visa credit card issuers to begin integrating USDC software into their platforms,” according to Forbes this afternoon.
In October 2020, Visa joined forces with Coinbase to offer the Visa Coinbase card. This card allows users to “spend digital assets anywhere Visa is accepted”. If you look back, until November 2015, you will see Visa working with Shift Payments to enable a Bitcoin debit card.
“We continue to think of Visa as a network of networks. Blockchain and stablecoins, like USDC, are just additional networks. ”Said Cuy Sheffield, head of Visa Cryptography. “Therefore, we think there is significant value that Visa can offer our customers, allowing them to access them and spend with our merchants.”