The world’s largest payments network, Visa has recently launched an exclusive Bitcoin credit card named “bitcoinblack” in the United Arab Emirates (UAE).
As per a statement issued by the company, only 10,000 users worldwide can apply for an invite to gain this card. Moreover, this card lets users convert their bitcoin holdings and other cryptos into spendable cash.
Those who want to apply for this card can obtain it via the bitcoinblack website.
Besides this, the card secures the holder’s crypto holdings and offers premium perks. One of these perks is a no-spend limit. Users can also receive rewards up to 10% back in special SPND tokens.
Via these SPND tokens, users can spend their rewards on various luxury items in bitcoinblack’s Haute Living Luxury Marketplace. Basically, the marketplace is “a curated online boutique that includes luxury watches, purses, cars, charter jet deals, private mansion access, and more.”
Bitcoinblack CEO Prakash Chand talked about this exclusive card, saying:
“People with incredible wealth in crypto needed a way to spend their crypto easily and be rewarded for it. bitcoinblack is perfectly suited for high networth individuals who want to use their crypto for business or pleasure wherever they are in the world, including the 140+ countries where Visa is accepted.”
In addition to that, he stated that owners can easily use this card like any other VISA card:
With crypto gaining prevalence, many payment systems are looking to incorporate the tech. In this race, both VISA and Mastercard are looking to capitalize on the first-mover advantage.