There are all kinds of bullish moves in the crypto space these days. This is happening despite the massive volatility of the crypto market.
American Express reveals new credit card
Payments giant American Express will soon launch the first ever credit card that offers crypto rewards.
According to a new report by Forbes, the firm teams up with crypto wealth management platform Abra to launch a credit card that would allow users to earn crypto rewards on any purchase category or amount.
According to Forbes, the credit card will transact in US dollars and provide a number of benefits coming from the American Express Network such as promos for travel, dining, and shopping.
There’s no date that has been officially mentioned, but it is said that the card will roll out sometime by the end of the year.
Mohammed Badi, president of global network services at American Express, stated the following:
“This is a credit card for crypto explorers and enthusiasts alike.”
Barhydt also said:
“[The partnership] represents another step towards Abra’s goal of eventually offering an instant line of credit directly at the point of sale. This is the future of payments.”
American Express now joins fellow credit card giants Visa and Mastercard in offering support for crypto assets.
In other recent news, Mastercard has just revealed its plans to widen access to the non-fungible token (NFT) market through the use of card payments.
In a blog post published on June 9, Raj Dhamodharan, an executive vice president at the company, said it had partnered with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and MoonPay to enable NFT commerce.
“We’re working with these companies to allow people to use their Mastercard cards for NFTs purchases, whether that’s on one of these companies’ marketplaces or using their crypto services,” he said.