Crypto exchange Blockchain.com teams up with Visa to offer crypto debit card to US customers

Crypto exchange Blockchain.com has announced a partnership with payments company Visa to launch a crypto card. At present, the card will be available only to US customers. There are plans to expand the offering to customers in Europe next year.

The crypto card will allow users to pay using their crypto or cash balance, wherever Visa debit cards are accepted. Blockchain.com has stated that it currently has a waitlist of 50,000 people wanting to sign up.

The firm took to Twitter to announce the partnership and share the waitlist link. As per the firm's tweet, there would be no sign-up fee, annual fee or transaction fee and users would earn 1% of all purchases back in crypto.

The crypto card will be issued by Marqeta, a California-based payments company, which powered crypto finance firm Swipe's Visa card in September 2020.

In addition to this, Visa supports cards issued by crypto firms such as Coinbase and Binance. Earlier, in the first week of October, Visa partnered with crypto exchange FTX to offer crypto debit cards in 40 countries, including those in Latin America, Asia and Europe.

Besides Visa, other global payment giants are also looking to add crypto to their payment network. Last week, Mastercard announced its partnership with crypto trading platform Paxos and introduced Crypto Source to offer crypto trading to its customers.