The Fold app, a mobile app that offers users Bitcoin rewards while shopping, has launch a new Visa co-branded card, which continues the offer of Bitcoin rewards for purchases made at retailers.
Visa would provide the company with financial support and team to enter the card to market. The reward does not trigger a taxable event “as the Bitcoin is not being sold.” The card will be functional at over 10 million merchants worldwide.
“Other cards announced by major exchanges require you to spend your crypto triggering taxable events. Our card enables you to spend dollars and earn Bitcoin,” Fold’s CEO Will Reeves told.
With Coinbase announcing its membership of Visa, the field of crypto debit cards continues to diversify, promising users a more flexible and familiar, “legacy” interface to earn and access cryptocurrency.