This year has seen unprecedented growth in the crypto markets, with lucrative knock-on effects for third parties like Visa. This, however, may already be beginning to dwindle, according to the company’s senior executives. The payments giant’s newly released financial results for fiscal Q3 2021 show bullish figures for cross-border and overseas transactions — a key metric for analysts on the lookout for early signals of pandemic recovery. Earlier this month, Visa revealed that its crypto-enabled cards had processed more than $1 billion in total spending for H1 2021, registering an impact on overseas volume as crypto users deposited funds into …

New York-based crypto loans and savings startup BlockFi launched its Bitcoin (BTC) rewards credit card today. The card is available to select approved customers on the United States waitlist. Officially named BlockFi Rewards Visa Signature Credit Card, the card was first announced at the end of last year by Visa and BlockFi. Available to use anywhere Visa is accepted, the card allows its recipients to earn 1.5% back in Bitcoin instead of airline miles or other cashback rewards. Earned Bitcoin rewards will be transferred to cardholders’ BlockFi Interest Account. Initial reports were saying that the card would have a $200 …

Intercontinental Exchange subsidiary Bakkt has introduced a debit card allowing customers to use crypto for retail purchases. In a Tuesday announcement, Bakkt said it had launched a fully virtual Visa debit card for both online and in-store spending. Card holders can spend Bitcoin (BTC) from their Bakkt accounts without waiting to convert the cryptocurrency to fiat. “Imagine a Bitcoin user who sees a significant gain,” said Bakkt CEO Gavin Michael. “Now, instead of selling and waiting to transfer to a bank, they can simply walk into their favorite store, tap their Bakkt Card and buy that new item they’ve been …

Mastercard Start Path, an accelerator program for fintech startups, has welcomed six new companies innovating in the fields of software-as-a-service, transactions and blockchain-based payments. Asante Financial Services, Cledara, Jifti, Moeda Seeds, SpendDebt and Tippy were selected for being “fintech innovators” in these fields, Mastercard announced Monday. Moeda Seeds stands out as the sole blockchain company offering digital banking, payments and micro credits utilizing distributed ledger technology. “As the fintech landscape evolves at an unprecedented speed, Mastercard provides the infrastructure and assets to help fintech innovators grow and ultimately bring more people into the digital economy,” said Amy Neale, Mastercard’s senior …

As blockchain technology and the public's awareness of cryptocurrency continues to grow, a range of new use cases a coming to market and enhancing the efficacy of legacy financial systems. Despite its many applications, the original use case for Bitcoin (BTC) as a medium of exchange remains one of the most fundamental applications of blockchain technology and while BTC might not be the best asset to use for payments, there are service providers who have eased the process of settling transactions in other cryptocurrencies. For now, the most widely accepted way to use cryptocurrencies for direct payments in everyday life …

A new credit card has been directly linked to a DeFi farming project for the first time — all while delivering instant crypto-to-fiat conversions and no need for pre-funding. The ZCore Finance Card is initially being released in Brazil, and is set to be rolled out globally in the third quarter of 2021. Users can farm or purchase ZEFI tokens and transfer them over to the card at zero cost, and several trading pairs on Binance Smart Chain are supported for those who are interested in staking. As an alternative, cards can also be recharged with a selection of third-party …

Major credit credit provider Visa is piloting a program that will allow its partners to use the Ethereum (ETH) blockchain to settle a transaction made in fiat. In a Monday announcement, Visa said it will be partnering with cryptocurrency exchange platform and card issuer Crypto.com to offer a crypto settlement system for fiat transactions later this year. Visa’s partners will reportedly be able to exchange USD Coin (USDC) over the credit card’s payment network to clear transactions made in fiat currency. According to Visa, its standard settlement process requires partners to send fiat currency via wire transfer, which "can add …

Cashback rewards for purchases have long been a popular tactic used by banks and credit card companies to entice consumers to use their services. Several cryptocurrency companies like BlockFi and Coinbase have revealed future plans to offer cryptocurrency-backed debit and credit cards that offer cashback rewards in Bitcoin and StormX (STMX) has joined the crowd. StormX (STMX) is a gamified marketplace that allows users to earn STMX as well as other cryptocurrencies for shopping at one of its online network partner stores or by completing micro-tasks through its app. Data from Cointelegraph Markets and TradingView shows that the price of …

Crypto lending firm BlockFi posted another record-breaking month in February, paying out over $35 million in interest to its clients. The interest payments were comprised of 450 Bitcoin (BTC), 5,000 Ether (ETH) and $6 million in stablecoins, CEO Zac Prince said. Another record breaking month of interest payments for @BlockFi clients in Feb. Over 35M in interest paid including: >450 #btc >5,000 #eth >6M in stablecoins Thank you and let’s keep going! — Zac Prince (@BlockFiZac) March 1, 2021 Clients of BlockFi are able to earn interest on Bitcoin, Ether and stablecoins by depositing their cryptocurrencies into an interest-bearing account. …

Credit card providers charge merchants a cut of the payments they accept, called interchange fees or swipe fees. With two major card providers aiming to elevate rates, could crypto become an alternative? “Visa Inc. and Mastercard Inc. are planning to raise swipe fees for some types of credit-card purchases in April,” the Wall Street Journal reported on Wednesday, adding: “Though invisible to consumers, they [interchange fees] are glaring to merchants, which often end up paying fees of about 2% of their customers’ credit-card purchases. The fees are set by the card networks, such as Visa and Mastercard. Merchants pay them …

Users of the Gemini exchange can now sign up for a cryptocurrency rewards credit card that lets them earn up to 3% back in Bitcoin (BTC). The Winklevoss-led exchange and custodian announced Thursday that the waitlist for the Gemini Credit Card is now open. According to an announcement shared with Cointelegraph, the new card will be launched later this year. Gemini disclosed that it has acquired Blockrize, a crypto payments startup headed by product developers formerly of American Express, JPMorgan Chase, Google and BitMEX. Blockrize has a waitlist of 10,000 people and they too will receive early access to the …

The United States Department of Justice saw a victory in a major fintech acquisition case that could set the stage for a host of antitrust enforcements. On Tuesday, the DoJ announced that Visa and Plaid had called it quits on their planned merger. Originally announced almost exactly a year ago, Visa was planning to pay $5.3 billion for the upstart tech firm. Plaid's ubiquitous software is designed to connect disparate systems of financial data securely. In its November 2020 complaint, the DoJ alleged that Visa was using the acquisition to snuff out competition. Today, Makan Delrahim, of the DoJ's antitrust …