Cryptocurrencies
Visa Teams With Startup Fold for Bitcoin Rewards on New Card
- Fintech CEO sees move as way to bring more consumers to crypto
- Visa’s approach to cryptocurrency evolving after rocky start
Source: Foldapp.com/card
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The mainstream adoption of Bitcoin is getting a boost from credit card giant Visa Inc., which joined startup Fold to offer a card that earns rewards denominated in the cryptocurrency instead of airline miles or cash.
As much as 10% of cash purchases made with the co-branded debit card from San Francisco-based Fold and Visa will be credited to users in Bitcoin, Fold Chief Executive Officer Will Reeves said. He expects it can bring a wave of consumers to the world’s most-valuable digital asset.