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Visa Adds Collaboration Projects To Integrate Crypto, Including BTC’s Fold

Fold, a crypto cashback app has now launched a new Visa card. This card will allow users to earn their rewards in Bitcoin, as opposed to conventional things like cash or points. With Fold’s latest announcement, a new trend is further highlighted as leading companies across the world try to integrate into the crypto space.

The common practice for this integration is the use of traditional debit or credit cards, having them act as a bridge to enable new users to access to the crypto space. With a more mainstream integration, more users seeking to spend or store various types of crypto will be attracted to it.

Joining Up With Fintech Fast Track

Fold has recently joined up with the Fintech Fast Track program that Visa maintains. This will allow the crypto startup, based in San Francisco, to offer a co-branded Visa card to the public at large. This new card of Fold will allow its customers to earn back BTC on every purchase that the card has made.

The CEO of Fold, Will Reeves, stated that the card stands as a game-changer for the crypto industry. Reeves says this is so, due to the fact that consumers will be capable of passively collecting and holding Bitcoin, the world’s oldest and largest cryptocurrency. As Reeves explained it, people aren’t really interested in spending Bitcoin at this point in time. Instead, Reeves is convinced that the public at large only wants to accumulate it. He reasons that the public will understand Bitcoin as a reward if they don’t see it as a form of money yet.

Reeves: Bitcoin Never Expires

Reeves further argues that customers of Fold, in particular, would stand at an advantage. This is attributed to the fact that users are garnering Bitcoin, a semi-versatile asset, and far more so than things like loyalty points, airline miles, or other forms of reward programs.

Reeves pointed out that Bitcoin has no form of an expiration date, and he believes that users will be capable of offsetting the next purchase through accruing it. This would allow for higher levels of flexibility and freedom for consumers, according to Reeves. He further pointed out that consumers would be capable of directly spending their Bitcoin through the use of fiat-denominated gift cards usable by retailers.

Continued Crypto Integration Efforts

As it stands now, retailers integrated with Fold are a fair few major names. Names like Delta Airlines, Amazon, Airbnb, Nike, Uber, Nintendo eShop, Starbucks, Domino’s, L.L. Bean, and Burger King are all integrated into the service.

Visa, the global payments giant, is continuing its campaign of collaborations with the crypto industry at large. Back in February of this year, Coinbase managed to launch its Coinbase Card, the card itself being powered by Visa. It allows for users to spend their preferred crypto to make day-to-day purchases.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.