Friday, December 9, 2022 Plans To Offer Crypto-Debit Card In Partnership With Visa Plans To Offer Crypto-Debit Card In Partnership With Visa

On October 26, made the statement that there would be no sign-up fees or yearly fees, as well as no costs for transactions, and customers would receive 1% of the purchases back in cryptocurrency. 

After the news got revealed, Cuy Sheffield, who is in charge of crypto at Visa, said that it is essential for cryptocurrencies to gain acceptability on a global scale for the adoption rate to keep rising. Users will now be able to pay using their cryptocurrency or cash balance anywhere Visa debit cards are accepted due to a partnership between and Visa to establish a crypto card. Initially, the card will only be accessible to users in the United States. 

The card is powered by the payments business Marqeta, which is based in California and helped build the crypto visa card that will be issued by the financial services company Swipe in September of 2020. Recent news stories have said that Visa has teamed up with the cryptocurrency exchange FTX to make a debit card that will be available in forty countries on October 7.

Mastercard, which is the biggest competitor to Visa, formed a strategic partnership with BitOasis, the biggest cryptocurrency platform in the Middle East and North Africa (MENA), on October 25. Their goal is to launch a series of crypto card programmes that will make it easier for people in the region to use digital assets.

Customers of BitOasis will be able to convert their cryptocurrency holdings into fiat currency and link their wallets to the new card, which is expected to launch in the early part of 2023. This will make it possible for customers to use the expansive merchant network supported by Mastercard. The partnership comes after BitOasis successfully completed a Series B investment round with a total of 30 million dollars in October 2021. The money made it possible for the company to expand its platform across the Middle East and North Africa (MENA).

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Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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