Mastercard is partnering with crypto exchange Gemini to introduce a new Cryptocurrency credit card.that will enable cardholders earn up to 3% in real time.
The real-time crypto rewards is available in all 50 U.S. states and will be accepted wherever Mastercard is accepted.
As at the time of writing this news, the following information was gathered;
Mastercard has decided to partner with the crypto exchange, Gemini in order to provide a new Cryptocurrency credit card that will enable cardholders to earn up to 3% in real time in bitcoin or any of the 30 of cryptocurrencies supported by the exchange. The agreement of the two companies was reached on Tuesday. Hence MasterCard will be the exclusive card network with webbank as the bank issuing the card.
The real-time crypto rewards will be available on all 50 U.S. states and will be accepted wherever mastercard is accepted.
In comparison with other cards, this card will pay out rewards on a monthly basis to its holders and the holders will equally receive rewards as transactions occur in most of their purchases.
It will also encourage automatic Cryptocurrency reward deposits in the cardholders account at the exchange. The card will not attract any annual fee.
Other important updates from the news include;
Upon the introduction of the project earlier this year, there were more than 14,000 people on the waitlist. Those who are on the waitlist will receive first access to apply for the card during the introduction of the cards.
In conclusion, it was gathered that Mastercard has been working on several crypto projects. The company has teamed up with a good number of crypto exchanges like Wirex, Bitpay and LVL. The payment giant had proposed to provide direct support for Cryptocurrencies on its network.
What are your thoughts about the new credit card introduced by mastercard?
