Crytpo startup Fold has struck a deal with Visa to launch a card that lets users earn bitcoin when they spend.
Fold has scored the ability to launch the co-branded Visa card after getting picked to join the payment giant’s Fintech Fast Track programme.
Rather than airline miles or loyalty points, shoppers will earn bitcoin back on purchases made with the card.
Users can spend from their bitcoin rewards by purchasing fiat-denominated gift cards for retailers on the Fold app, or allow the value to accumulate like they would in a savings account.
Fold CEO Will Reeves says: “What we noticed at Fold is that plenty of people are interested in participating in the growing bitcoin economy but aren’t sure how to get started.
“Fold makes it easy for anyone to get their first piece of bitcoin when using the Fold card to earn bitcoin rewards on any purchase.”