Fold, a mobile application that makes it easy to spend their bitcoins and receive the cashback , joined the program Fintech Fast Track to Visa and will soon launch its own debit card .
Press release says startup is now a member of Fintech Fast Track , a program to accelerate the integration process with Visa to give young businesses the ability to take advantage of VisaNet , the payment network of the society.
By joining Visa’s Fast Track program , Fintechs like Fold have unprecedented access to Visa experts, technology and resources . This allows us to provide the new resources that fast-growing businesses need to grow effectively, ” said Terry Angelos, global director of Fintech at Visa.
Following its membership, Fold will soon launch a debit card allowing you to spend money and receive cashback in Bitcoin on each purchase made.
The Fold card offers consumers an easy way to earn Bitcoin rewards for their daily spending. Fold makes it easy for anyone to get their first bit of Bitcoin, ”added Will Reeves, CEO of Fold.
If several major players in the industry, including Coinbase, have already been offering debit cards for some time to spend cryptocurrencies, Fold stands out by offering the possibility of spending cash (euro, dollar) while receiving rewards in Bitcoin.
According to Meltem Demirors, founder of CoinShares, an American firm that invested in Fold this fall, the card will appeal “especially to people who want to keep their cryptocurrencies rather than spend them”.
Note that the bitcoins earned can then be transferred to the wallet of your choice or be spent directly via the application.
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