- Deserve launched a Visa credit card in partnership with cryptocurrency financial services provider BlockFi in July. The card allows customers to earn rewards in the form of bitcoin.
- Visa chose Deserve last year as a partner for its Fintech Fast Track program, which supports digital payment innovation, according to the statement
- Mastercard previously invested in Palo Alto, California-based Deserve in June in a $50 million funding round that valued the company at more than $500 million, according to Bloomberg.
- Visa also joins additional investors including Goldman Sachs Asset Management and Mission Holdings
- Transaction volume for the card is approaching $2 billion on an annualized basis, and BlockFi cardholders are projected to spend roughly $30,000 per year, 50% above that of average credit card holders, Deserve’s co-founder and CEO Kalpesh Kapadia told Bloomberg.
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