Fintech Firm Brex Launches Crypto Rewards Program for Business Clients

The firm's business customers include Airbnb, Carta, Classpass and Y Combinator.

By Tanzeel Akhtar

May 12, 2021 at 3:00 p.m. UTC

Updated Sep 14, 2021 at 12:54 p.m. UTC

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Brex, a San Francisco-based financial firm, has introduced a cryptocurrency rewards program for business clients, allowing them to redeem points for bitcoin and ether.

The company has formed a partnership with TravelBank to offer the program, Brex said Wednesday.
Business clients, including Airbnb, Carta, Classpass and Y Combinator, will be able to redeem points for crypto in what Brex says is the first such program for businesses.
Sam Blond, Brex's chief sales officer, said the company has been considering decentralized finance and the crypto market.
The company offers business credit cards and cash-management accounts and provides bookkeeping to tech firms.
The addition of the new option to the rewards program, which was launched in 2018, reflects Brex’s belief that cryptocurrency will play a big role in the future of finance, the firm said.
The company completed the Y Combinator accelerator funding program for startups in 2017 and has raised over $940 million in venture capital.

Correction (May 12, 15:38 UTC): Coinbase is not partnering with Brex on the product. Users can deposit rewards into crypto wallets like those offered by Coinbase.

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