BlockFi launches BlockFi Rewards Credit Card to US waitlist clients
By Pavithra R
BlockFi, building a bridge between traditional finance and blockchain technology to bring financial empowerment to clients globally, has announced the launch of BlockFi Rewards Visa Signature Credit Card to select approved US waitlist clients.
According to company data, since the launch of the BlockFi Rewards Visa Signature Card waitlist in December 2020, it has amassed nearly 400,000 people. Following successful beta testing, BlockFi and its partners have begun offering those first in line on the credit card waitlist to apply and releasing the card to select clients.
“Crypto rewards programs are a compelling way to engage consumers in the crypto economy. We’re excited to see programs like the BlockFi Rewards Visa® Card, which offer rewards that are relevant to the growing community of digital currency adopters,” said Terry Angelos, SVP and Global Head of Fintech at Visa.
Card recipients will be able to earn 1.5% back in Bitcoin on purchases they make. Additionally, cardholders will receive a 3.5% Bitcoin rewards rate for the first 90 days. Cardholders can also earn 2% back in Bitcoin on every dollar spent over $50,000 annually. For every transaction cardholders make they can earn Bitcoin rewards. Once redeemed, Bitcoin rewards are transferred to a cardholder’s BlockFi Interest Account (BIA) where rewards can earn crypto interest.
The BlockFi Rewards Visa Card can be used anywhere Visa is accepted. It has no annual fee and features a wide range of additional bonuses from Visa including travel opportunities, fine wine and food, sporting events, shopping, and more. Some of the special offers include upgrades at more than 900 of the world’s most prestigious properties with the Visa Signature Luxury Hotel Collection. Plus, cardholders can save on premium ground transportation with Silvercar’s all-Audi fleet of rental cars.
Cardholders can also receive a wide range of other bonuses and opportunities to earn, including:
- Stablecoin Bonus — Cardholders with stablecoin assets such as GUSD, PAX or USDC in a BIA can earn up to an extra 2% APY on top of the prevailing stablecoin APY.
- Trading Bonus — The BlockFi credit card makes trading more rewarding. Cardholders who trade cryptocurrencies on the platform will earn 0.25% of their trading volume back in Bitcoin, up to a maximum of $500 in BTC every single month.
- Refer-a-Friend Bonus — Cardholders who make successful referrals to BlockFi earn an extra $30 in Bitcoin for each friend they refer, on top of the base Refer-a-Friend program. With this bonus, clients can earn $40 in Bitcoin for each of their first four referrals and up to $50 in Bitcoin for each referral thereafter.
“The crypto industry has come a long way since the first Bitcoin payment transaction 11 years ago. Today, nearly everyone knows about the important role crypto plays in reshaping the financial space, and our new credit card is set to be another game-changer. This card will make it easier than ever for people to earn Bitcoin back while making day-to-day purchases,” said Flori Marquez, Co-Founder and SVP of Operations at BlockFi.
Founded in 2017, BlockFi provides wealth management products that crypto investors need, all powered by blockchain technology. Additionally, BlockFi is a leading lender and provider of trade execution services to institutions participating in digital asset markets.
IBSi Daily News Analysis
August 12, 2022
The Weekly Wrap: all you need to know by Friday COB | August 12thRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
August 12, 2022