Fold, the crypto payment gateway has recently joined Visa’s Fintech Fast Track program with the aim of introducing a Visa payment card that will offer users spending Dollars and earn cash rewards on Bitcoin.
Fold joined on Thursday Visa’s Fintech Fast Track program hosted by the payments giant to enhance the integration of fintech startups into Visa.
As per Fold, this is for a crypto-based company to take part in the event for the first time. The SVP and global head of fintech at Visa Terry Angelos said significant Fintech companies like Fold will benefit from exceptional access to Visa experts, technology, and resources with their participation in the Visa’s Fast Track Program.
The SVP further notified that the program offers new resources that must be scale-up with efficiency by rapidly emerging companies.
In addition to Fold, some other exchanges of crypto such as Crypto.com, Binance, and Coinbase have declared their own debit cards that offer users to spend bitcoin.
Debit Card to be Released During Q32020
Fold CEO and Co-Founder Will Reeves said:
“Fold is one of the first companies that allow you to spend bitcoin in the real world… As bitcoin has evolved and as our relationship with bitcoin has changed, we have morphed to fit what the true value of bitcoin is. That is, giving you the easiest way to accumulate this new asset but also do it in a way that you don’t have to buy it, and you don’t have to go through KYC.”
According to the CEO, the new debit card will be released n Q3 and in order to register the users ‘interest, a waiting list is open on the platform where users have to provide their phone numbers and addresses to verify the bank account’s possession.
“For us, it was really incredible that we were able to get Visa behind the value proposition of bitcoin rewards but also have them bring us as the first crypto company in the fintech fast track program,” said Reeves.
Fold will however launch its new Visa cards in July, but the provider of banking services is still unknown.