Companies Starting to Offer Crypto Rewards for Using Credit Card

It is common for credit card users to benefit from getting cash back for using a credit card.  However, companies are starting to add features for users to have crypto rewards instead of cash back.  

Source: TIME

BlockFi, a cryptocurrency financial institution, launched a BlockFi Rewards Visa card to welcome audiences into the crypto ecosystem.  By using this credit card, users can get 1.5% back with Bitcoin (BTC) as a reward. 

A well-known mobile payment service Venmo added a feature called “Cash Back to Crypto” which allows users to purchase crypto with their cashback rewards.  They are able to purchase cryptocurrency from Bitcoin to Ethereum (ETH).

Few companies started to integrate crypto rewards into their system.  The following projects are providing crypto rewards for card purchases.

B2B payments platform Paystand introduced the first business expense card with native crypto rewards yesterday.  With this Defi corporate card, businesses can earn bitcoin as a reward automatically rather than requiring them to redeem their points.  

CEO and co-founder of Paystand Jeremy Almond showed his excitement about the new offering.  

“We believe blockchain technology and cryptocurrency is the future of finance, and we’re excited to help businesses participate and grow in the digital economy,” 

Another project called Plutus, a digital finance platform, offering 3% crypto rewards on payments with their debit card including subscriptions services like Netflix, AppleOne, Uber and more.

Additionally, users can increase their reward up from 3% to 8% and unlock more benefits by staking PLU (Crypto Rewards).