Bitcoin (BTC) is a dynamic monetary asset with the potential of being both — a commodity and a currency. For instance, the Securities and Exchange Commission (SEC) classified BTC as a commodity, whereas El Salvador made Bitcoin a legal tender in 2021. So, does this make BTC a store of value or a medium of exchange? It can do both — On one hand, BTC can be added to treasuries as an inflationary hedge. On the other hand, it could also serve the retail purpose of paying for routine expenses. Almost over a decade ago, the first person to utilize …

Gonzalo Pérez del Arco, director of government affairs in South Europe for card payment giant American Express, believes that making payments with crypto is not currently cost-effective. Pérez’s comments came during an exclusive chat with Cointelegraph editor Aaron Wood at European Blockchain Convention 2022, during which they discussed American Express’ current crypto-related plans and prospects. Pérez explained that several factors make crypto payments nonfeasible in the current market, such as high transaction costs and the willingness of merchants to accept digital payments. However, he noted that crypto payments could become a reality in the future, and American Express is bullish …

Traditional card networks are vying to ensure their services remain at the center of new developments in digital assets, whether they be central bank digital currencies (CBDCs) or private sector stablecoins. In an earnings call on Thursday, Mastercard CEO Michael Miebach discussed recent developments in crypto and CBDCs, making the pitch that the company was well-positioned to remain a linchpin of intra- and international value flows: "What we believe we do is bring a perspective to the market as a multi-rail payment provider. We have to be in this space because people are looking for answers." Mastercard has been highly …

This year has seen unprecedented growth in the crypto markets, with lucrative knock-on effects for third parties like Visa. This, however, may already be beginning to dwindle, according to the company’s senior executives. The payments giant’s newly released financial results for fiscal Q3 2021 show bullish figures for cross-border and overseas transactions — a key metric for analysts on the lookout for early signals of pandemic recovery. Earlier this month, Visa revealed that its crypto-enabled cards had processed more than $1 billion in total spending for H1 2021, registering an impact on overseas volume as crypto users deposited funds into …

As the Ukrainian government progresses with cryptocurrency-related legislation, a major local e-bank is preparing to launch a debit card featuring Bitcoin (BTC) trading. Ukrainian online banking application Monobank has completed a pilot integration with a cryptocurrency trading platform, Monobank co-founder Oleg Gorokhovsky announced Monday. According to the executive, the new integration will enable Monobank users to buy and sell Bitcoin with a debit card. Monobank expects to release the new feature later this month pending approval from the National Bank of Ukraine, Gorokhovsky noted. Launched in 2017, Monobank operates under the license of Universal Bank owned by tycoon Sergey Tigipko, …

Online shoppers who pay with their Coinbase Card via Apple Pay and Google Pay will begin enjoying crypto rebates. In an announcement issued on Coinbase's blog on Tuesday, the exchange service revealed that starting in June, some whitelisted customers will be selected to begin enjoying the crypto rebate feature. As part of the announcement, Coinbase revealed that customers who use their Coinbase Card via Apple Pay and Google Pay can earn up to 4% in crypto rewards for online shopping. “Splurging for guacamole with your Coinbase Card is a no-brainer when you can earn 1% back in Bitcoin or 4% …

Cashback rewards for purchases have long been a popular tactic used by banks and credit card companies to entice consumers to use their services. Several cryptocurrency companies like BlockFi and Coinbase have revealed future plans to offer cryptocurrency-backed debit and credit cards that offer cashback rewards in Bitcoin and StormX (STMX) has joined the crowd. StormX (STMX) is a gamified marketplace that allows users to earn STMX as well as other cryptocurrencies for shopping at one of its online network partner stores or by completing micro-tasks through its app. Data from Cointelegraph Markets and TradingView shows that the price of …

Crypto.com is now the latest cryptocurrency exchange and payment service to join the Visa network. According to a press statement issued on Wednesday, Crypto.com has inked a global partnership with the credit/debit card payment giant which includes becoming a principal member of Visa’s network in Australia. As part of the press release, Crypto.com revealed that the collaboration with Visa was in line with the company’s efforts to expand the reach of its crypto Visa card. Crypto.com’s Visa card is already used in more than 30 countries around the world, including the United States, Canada, as well as nations in Europe …

Over 200 Simplex partner companies can now offer crypto debit cards to their customers, potentially enabling greater adoption of cryptocurrencies for retail transactions. The development is the result of a recent partnership between Simplex and Visa announced Monday. Simplex, a fiat-to-crypto on-ramp service is now a principal member of Visa in Europe. A Simplex spokesperson explained to Cointelegraph that the partnership is mainly a boost for the company’s business-to-business activities. “The principal membership is what enables us to roll this out to our partner network, basically giving any Simplex partner the ability to offer a crypto or fiat Visa card.” …

Cryptocurrencies like Bitcoin (BTC) aren’t really easy to spend in day-to-day life, mainly because retailers prefer to stay away from crypto’s volatility. In order to build a bridge between traditional finance and emergent assets like Bitcoin, a Swiss crypto startup called Eidoo has introduced a new Visa crypto debit card that uses regulated stablecoins for crypto-to-fiat conversion. The so-called Eidoo Card has been approved for operation by payment giant Visa. Announcing the news on May 25, Eidoo told Cointelegraph that its new card will enable 40 million Visa merchants to accept crypto-derived fiat currencies, including the British pound (GBP) and …

Payments and cryptocurrency platform, Crypto.com, announced a broad European launch of its MCO Visa cards. The cards will soon ship to 31 countries in the region, according to the company’s blog post, published May 15. The company’s European presence now covers all 27 EU member states, as well as Switzerland, the UK, Iceland, and Norway. The firm claims to have “the most widely available crypto card in the world” as a result of this expansion. Prior to this, it had already been offering services in Asia and the US. When asked how difficult it was to get the green light …

Coinbase’s Visa debit card has expanded support for five more cryptocurrencies in ten new jurisdictions, the firm announced in two separate tweets on Nov. 14. Launched in April 2019, Coinbase Card now supports a total of nine cryptocurrencies in 29 countries in Europe. The Coinbase Card’s new supported cryptos include XRP, Stellar (XLM), Basic Attention Token (BAT), 0x (ZRX) and Augur (REP), enabling users to spend using the listed currencies. The five coins join other major supported cryptocurrencies like Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). Coinbase Card allows users to make purchases using crypto from Coinbase …