Idelto

Cryptocurrency news website

crypto card

New American Express Credit Card Lets Shoppers Earn Crypto Rewards Tradable Across 100+ Cryptocurrencies

by

New American Express Card Lets Shoppers Earn Crypto Rewards Tradable Across 100+ Cryptocurrencies

American Express and Abra are launching a new credit card that will allow shoppers to earn cryptocurrency rewards “tradable across over 100 different cryptocurrencies” without annual or foreign transaction fees.

American Express and Abra Launching Crypto Rewards Credit Card

American Express (Amex) and crypto trading platform and wallet provider Abra announced the upcoming launch of the Abra Crypto Card on the American Express network Friday. Abra described the new card as:

The first crypto rewards credit card on the American Express network that will transact in U.S. dollars and offer crypto back on any purchase category and amount.

“The crypto rewards will be tradable across over 100 different cryptocurrencies supported by Abra, with no annual or foreign transaction fees,” the crypto company detailed.

The Abra Crypto Card will offer several benefits from the American Express Network, including Amex Offers, presale ticket access, global dining benefits, and purchase protections, Abra further noted.

Mohammed Badi, president of Global Network Services at American Express, commented: “One of the ways we back the evolution and innovation of commerce is by making it easier for fintechs to develop and scale innovative payment solutions leveraging the American Express global payments network and the Amex/i2c platform.” The Amex executive added: “We have a long-standing relationship with Abra through our Amex Ventures investment portfolio.”

Interested customers can now join the waitlist for the card, which Abra expects “to be first available in late 2022.”

In addition, the crypto firm announced Friday a new feature to buy and sell non-fungible tokens (NFTs) “with managed custody and [a] full collection gallery in the Abra app that will remove the hassle and minimize the risks of using defi [decentralized finance] wallets.”

Will you be applying for this American Express crypto rewards card? Let us know in the comments section below.

Crypto Exchanges Binance and Whitebit Offer Help for Ukrainian Refugees

by

Crypto Exchanges Binance and Whitebit Offer Help for Ukrainian Refugees

The global crypto community has actively supported humanitarian efforts in Ukraine and two crypto exchanges are also looking to help Ukrainian refugees abroad. Binance, the largest coin trading platform, and the Ukrainian Whitebit have turned their attention to the Ukrainians who had to leave their country as a result of Russia’s invasion.

Binance to Launch Charity Crypto Card for Ukrainian Citizens Escaping Conflict

The world’s leading cryptocurrency exchange, Binance, will launch a “charity crypto card” this month for those who have been forced to leave Ukraine and need help, Ukraine’s Minister of Digital Transformation Mykhailo Fedorov announced on Telegram, following a conversation with the company’s CEO Changpeng Zhao.

“This is an important support for our citizens during the war,” the government official stated, quoted by the crypto news outlet Forklog. He noted that the exchange continues to work with his department on cryptocurrency adoption and plans to support educational projects in the digital space to help more Ukrainians acquire digital skills and new professional qualifications.

Fedorov, who also serves as deputy prime minister in Kyiv, highlighted that the company has already committed $10 million to Ukraine and intends to increase the amount to $20 million in the near future. Crypto donations collected through Binance Charity finance the humanitarian initiatives of major intergovernmental and local non-government organizations.

Whitebit to Provide Assistance to Ukraine’s Foreign Ministry

Meanwhile, Ukrainian crypto exchange Whitebit has signed a memorandum of cooperation with the country’s Ministry of Foreign Affairs. The company recently said it can help people who left Ukraine to escape the ongoing hostilities through its representative offices in foreign countries and its technical and other resources. In recently published blog post, it stated:

We continue to work, establish cooperation with the state, and help Ukraine. By scaling up the business in other countries, we scale up social projects essential for maintaining democracy and European values.

Whitebit intends to provide assistance to Ukraine’s Consular Service in the countries where it maintains offices and facilitate “the transition of foreign diplomatic institutions to barrier-free digital spaces.” It also pledged support for the foreign ministry’s Anti-Crisis Center and a call center providing consultations to Ukrainians in need.

You can support Ukrainian families, children, refugees, and displaced people by donating BTC, ETH, and BNB to Binance Charity’s Ukraine Emergency Relief Fund.

Do you expect other crypto platforms to join efforts in support of Ukrainian refugees? Tell us in the comments section below.

New Visa Card Allows Bakkt Users to Spend Bitcoin in Stores and Online

by

New Visa Card Allows Bakkt Users to Spend Bitcoin in Stores and Online

Customers using the Bakkt app can now apply for a debit card which will enable them to pay with bitcoin at merchants that don’t currently take crypto. The virtual Visa card can be added to Apple Pay or Google Pay to purchase items at thousands of retailers supporting the mobile payment systems.

Bakkt Card Can Be Linked to Apple Pay and Google Pay

This year’s all-time highs convinced many to invest in cryptocurrencies but digital assets still have a lot of ground to cover to achieve wide adoption in everyday payments. Debit cards issued by crypto companies bridge the gap between bitcoin and merchants that are yet to start accepting digital coins. Now there is a new offering in the market. Crypto marketplace Bakkt has launched a debit Visa card that “will maximize users’ ability to spend digital assets.” The card allows Bakkt customers to use their bitcoin (BTC) and fiat cash (USD) balances to buy goods and services, both online and in-store.

The card can be used through the popular Apple Pay or Google Pay mobile wallets which opens the door to thousands of retailers around the world. Commenting on the announcement, Bakkt CEO Gavin Michael pointed out:

Our goal first and foremost is to offer more choice for consumers, and the Bakkt Card untethers bitcoin owners from their online-only past into a world with countless options to leverage the digital assets in their day-to-day lives.

Users Can Order the Visa Card via Bakkt App

Instead of selling their crypto and waiting for a bank transfer, Bakkt users can now walk into a store, tap their Bakkt Card and pay for the item they want to purchase, Gavin Michael elaborated. The executive added that selected customers will soon be able to take advantage of the same payment option using their rewards points.

The Bakkt crypto card is issued by Sutton Bank, a member of the Federal Deposit Insurance Corporation, pursuant to a license from Visa USA Inc. To obtain a virtual Visa, users will have to apply via the Bakkt wallet app. The platform says it’s “enabling this real-world spending, alongside the ability to invest in and hold bitcoin with no transaction fees.”

While Bakkt doesn’t charge a fee per transaction, it does sell BTC to its customers at a price higher than their “computed market price,” the company explained in a press release. “Our spread for bitcoin purchases will be no more than 1.5% throughout 2021,” Bakkt revealed in the announcement.

Are you using a crypto debit card and if so, which one? Let us know in the comments section below.

Visa Grants Principal Membership to Crypto Payments Platform Wirex

by

Visa Grants Principal Membership to Crypto Payments Platform Wirex

London-based crypto-payments platform Wirex can now issue Visa accounts and process transactions autonomously, as the firm became a principal member of the payments giant.

Crypto Payments Platform Wirex Gets Principal Membership From Visa to Issue Cards Autonomously

According to the announcement, Wirex has been added to the European network of Visa as a member after long-lasting cooperation, whose customer base has over 3 million in the APAC and EEA countries. The company enables its users to transfer crypto and fiat currencies globally through the platform.

With the membership, Wirex becomes the second crypto company after Coinbase to get such kind of membership, although this is not the first payment giant the London-based firm partnered with.

On July 20, 2020, the company also teamed up with Mastercard to directly secure a principal membership to issue cards supporting both crypto and fiat currencies.

The latest figures revealed by Wirex show that the company had experienced a 271% increase in the number of crypto exchanges on their platform compared to December 2019. It also launched its first crypto-enabled debit card in 2014.

Cryptocurrencies and Payment Giants

Cuy Sheffield, senior director and head of cryptocurrency at Visa, commented on the announcement:

Digital currencies have the potential to extend the value of digital payments to a greater number of people and places. We’re excited to work with innovative Fintech’s like Wirex, and enable their customers to use digital currencies at more than 61 million merchants on the Visa network.

Moreover, Pavel Matveev, CEO and co-founder of Wirex, believes that achieving this principal membership from Visa paves the road to catch more opportunities to continue developing “a revolutionary product.”

Wirex is also preparing the ground to land in the US market, as they’re about to launch a single currency Visa card. However, Wirex is not the only one who offers bitcoin-based cards in the crypto sphere, as exchanges such as Binance and Coinbase offer such products.

What are your thoughts on this announcement? Let us know in the comments section below.

The post Visa Grants Principal Membership to Crypto Payments Platform Wirex appeared first on Bitcoin News.

Amon, AI-Powered Crypto Wallet and Card Is Fundraising on BnkToTheFuture

by

Amon, AI-Powered Crypto Wallet and Card Is Fundraising on BnkToTheFuture

PRESS RELEASE. Amon, known for their innovative app that aims to make using digital currencies stress-free, will soon release their debit card in 31 EEA countries.

The company, which recently got approval to release a crypto debit card, is currently fundraising on the online platform that facilitates investments in FinTech, blockchain, and bitcoin companies, BnkToTheFuture.

Amon has so far raised over $470.000 in equity funding and is backed by a large Hungarian Bank and a VC. Amon is still fundraising on BnkToTheFuture for a few more days.

Since its inception in April 2018, Amon has onboarded two institutional investors -MKB Bank (the fourth largest bank in Hungary) and Digital Magics, a VC that invests in innovative FinTechs.

They have been developing Amon Wallet which integrates fiat, crypto, and several other products to support user spending and investing. The Wallet offers different solutions to ease crypto adoption such as:

  • EUR/GBP and crypto wallets
  • Amon Earn -an investment product in partnership with Celsius.Network to earn passive interest on crypto assets
  • A one-click exchange

Coming up soon are:

  • Amon Debit Card to spend EUR/GBP currencies anywhere UnionPay is accepted
  • Investment Assistant to help users make better spending and investment decisions

An Ethical Token Utility to support charities

What are the main value propositions?

With the green light for the card launch, Amon is set to become an important player in a market that is still widely underserved, considering going by the massive growth of crypto users in of the past years (from five million in 2016 5 to 46 million crypto users from 2016 to by 2018 according to a Cambridge University Study).

Amon is also launching an Investment Assistant which its CEO, Daniele Izzo, says that “will support users in their investments and spending decisions.” says the CEO, Daniele Izzo. The Amon Investment Assistant is a tool that will help new and existing crypto users to understand crypto trends, compare volatility and get a risk score to each user’s Portfolio. This information will help users to balance their portfolio in a more or less risk averse position.

In June 2019, Amon has also launched a partnership with Celsius.Network which now enables , Amon Wallet users are already able to get 3% to – 12% annual passive interest rates – , paid on and a weekly basis and without a locking period – on their crypto assets like, in the Amon Wallet for BTC, ETH, XRP, LTC, BCH, DAI and USDCCD.

Celsius.Network is also actively supporting Amon fundraising on their Twitter showing Amon as one of their first partners. The integration of the Wallet with the Card will then allow users to earn passive interests and spend them within the same Wallet.

If you haven’t checked it out yet, here you can find their pitch on BnkToTheFuture.

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post Amon, AI-Powered Crypto Wallet and Card Is Fundraising on BnkToTheFuture appeared first on Bitcoin News.