The merger of Web2 and Web3 tools continues as crypto-backed debit cards become more mainstream. In an announcement on Feb. 10, Bit2Me, the largest Spanish cryptocurrency exchange, revealed its new cashback debit card in partnership with Mastercard. The original Bit2Me card works for its users via the Mastercard network that hosts millions of businesses worldwide. This new update offers users up to 9% crypto cashback for all purchases made with the card online or in-store. Leif Ferreira, the CEO and co-founder of Bit2Me, told Cointelegraph that the use of already known Web2 financial tools like debit and credit cards comes …

Last year proved that the Web3 space is not just a phenomenon but rather the future of digital interactions. However, as pervasive as the space has become, many are still skeptical as to how it can and will be a part of their lives. Many developers are seeking ways to bridge the gap between these two iterations of the web. Cointelegraph spoke with Bruno Guez, the CEO of Revelator, to understand why he believes already existing Web2 financial tools like credit cards can actually be bridges to usher new users into Web3. Revelator, which works in the music industry that …

Major credit card company Visa may be planning to explore digital wallet services based on two recent trademark applications. According to records submitted to the United States Patent and Trademark Office on Oct. 22, the Visa International Service Association filed two applications for its character mark to be used in software “to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange” crypto assets and nonfungible tokens, or NFTs. The filings also suggested the credit card company may be exploring a move into the metaverse, with its namesake used in “virtual environments in which users can interact for recreational, …

Japan Credit Bureau (JCB), a Japanese analog to international payments systems like Visa or Mastercard, announced the start of its central bank digital currency (CBDC) infrastructure testing. The project will assumably prepare the payments platform for a national CBDC, which is currently being tested by the Bank of Japan (BoJ). The infrastructure project, announced by the company in local media, will come under the title JCBDC and aims at adjusting the JCB’s existing credit card infrastructure for CBDC payments. The France-based provider of facial recognition technology IDEMIA and Malaysian Softspace will collaborate with JCB in the platform’s development. The platform …

Mastercard officially announced on Oct. 17 a new program to enable financial institutions to bring crypto trading capabilities and services to their customers. Called “Crypto Source,” the program is designed to allow users to buy, hold and sell cryptocurrencies, complemented by Mastercard’s proprietary Crypto Secure solution for additional security and compliance. The tool is launched in cooperation with Mastercard’s existing partner Paxos Trust Company and is reportedly expected to launch in Q4 2022. Paxos is known for providing similar services to global payment giant PayPal, which launched its first crypto services in late 2020. Within the new partnership, Paxos will …

At the Blockchain Economy Dubai Summit 2022, Cointelegraph spoke with Codego CEO Simone Binotto Torre about crypto cards. During the talk, the executive argued that one of the catalysts for broader adoption is the simple ability to make purchases with your crypto through a credit or debit card. Even with Web3 use cases sprouting left and right within the space, the ability to spend crypto to make purchases at real-world stores and shops is still one of the most important applications for digital assets according to Torre. The exec highlighted that it’s important for holders to be able to easily …

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 …

Financial companies in Israel are increasingly moving into cryptocurrencies like Bitcoin (BTC), with two competing credit card firms working on BTC investment and cashback features. Two Israel-based credit card companies, Max and Isracard, have inked partnerships with crypto-related platforms in order to allow cardholders to purchase Bitcoin, the local news agency Calcalist reported on Tuesday. Max announced a collaboration with the local crypto broker Bits of Gold to launch a crypto-enabled card called MaxBack Crypto. According to Max's official website, the card will offer cashback opportunities in BTC as well as the option to buy Bitcoin through a clearing agreement …

Gemini, a major cryptocurrency exchange founded by the Winklevoss twins, has launched its crypto credit card. The company officially announced Thursday that its Gemini Credit Card is available in the United States across all 50 states. The new card is issued by the state-chartered industrial bank WebBank and features Mastercard as the exclusive card network. The card’s rollout comes more than a year after Gemini initially announced the project in 2021, aiming to reward users for using crypto for everyday transactions. Since launching the Gemini Credit Card waitlist last year, more than 500,000 users have signed up for the product, …

Major cryptocurrency loan company Nexo has officially launched a crypto-backed Mastercard card enabling users to pay for services with cryptocurrencies like Bitcoin (BTC) without selling their crypto. Nexo has partnered with Mastercard and the peer-to-peer payment startup DiPocket to launch the Nexo Card, a crypto card allowing cardholders to use their crypto as collateral rather than selling it, the firm announced to Cointelegraph on Wednesday. The card is linked to a Nexo-provided, crypto-backed credit line allowing to use of multiple assets as collateral, including but not limited to Bitcoin, Ether (ETH) and the Tether (USDT) stablecoin. "The Nexo Card functions …

Receiving cashback from your credit and debit card purchases has been a long-time benefit for credit card users. However, crypto entered the scene as projects start to implement crypto back rewards for card purchases. Back in 2021, BlockFi launched a Visa-backed Bitcoin rewards card as a way to welcome users into the crypto ecosystem. With the card, users can get 1.5% back in Bitcoin (BTC) instead of other rewards like cashback or miles. In the same year, Venmo also employed mechanics that allows users to buy crypto with their cashback rewards. A program called Cash Back to Crypto allowed credit …

Major credit card company American Express has filed trademark applications for some of its logos and designs, hinting at expanding into the metaverse. According to applications submitted to the U.S. Patent and Trademark Office on March 9, American Express may be readying to provide “virtual concierge services” related to credit card transactions “in the metaverse and other virtual worlds.” The applications included trademarks on the use of some of its logos and branding with virtual payment cards, conducting banking services in the metaverse, and using its cards at a non-fungible token, or NFT, marketplace. AMERICAN EXPRESS has filed 7 trademark …