StormX Raises $9M in Funding Round for Rewards Debit Card, US Growth

The funding will also be used to make the app interface more user-friendly and make it easy for customers to sign up for the debit card.

AccessTimeIconJul 27, 2021 at 2:00 p.m. UTC
Updated Sep 14, 2021 at 1:31 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto cashback app StormX has secured $9 million in a funding round led by Optimista Capital to support its plans for a debit card and to expand across the U.S. later this year.

  • The funding will also be used to make the app interface more user-friendly and make it easy for customers to sign up for the debit card, the firm said.
  • StormX said the debit card will launch in the U.S later this year, and then in the rest of the world. The card will offer users in-store rewards in 15,000 locations in partnership with retail and food and beverage companies.
  • In June, StormX announced the Portland Trail Blazers will feature StormX advertising patches on their jerseys under a sponsorship deal with the National Basketball Association team.
  • The new funding will also be used to hire new employees and to increase athlete and e-sport marketing, the firm said. 

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.