As the cryptocurrency market grows, more and more companies are starting to recognize the opportunities offered by cryptocurrencies and look for ways to incorporate them into their operations as well as provide relevant services for their customers.
One of these companies was VISA, the world's largest payment network, which launched a special VIP cryptocurrency card called "bitcoinblack", which was initially made available in the United Arab Emirates, according to a press release on July 3. According to the press release, the card, first released in 2021, can be used by invitation only among 10,000 members worldwide, and members will be able to convert their Bitcoins (BTC) and other major cryptocurrencies into spendable money via the card. Application for access to the card will be made via bitcoinblack's website.
According to the statement, the card is secured by users' crypto assets and offers premium benefits such as spending anywhere in the world where Visa has a contract, as well as paying up to 10 percent back in special SPND token. Rewards earned with this exclusive card can be redeemed for a variety of luxury items at the upcoming upcoming marketplace Haute Living Luxury, an online boutique that includes bitcoinblack luxury watches, wallets, cars, charter jet deals, exclusive mansion access and more. Commenting on the development, bitcoinblack CEO Prakash Chand said:
"People who are incredibly wealthy in crypto needed a way to easily spend their crypto and be rewarded for it. (…) bitcoinblack, who want to use their crypto for business or fun wherever they are in the world, including over 140 countries where Visa is available. Perfectly suited for high-wealth individuals. All users have to do is load their crypto into the card via the web app or the upcoming secure bitcoinblack wallet app. Then users are instantly empowered to spend their cryptocurrencies with the best conversion rates and high limits."