Visa invests in FinTech to drive crypto card programmes

Visa has invested in Deserve, a FinTech company that specialises in transforming credit cards into mobile-centric software, to help drive the adoption of cryptocurrency-powered cards.

Other investors include Mission Holdings, Mastercard, Ally Ventures, Goldman Sachs Asset Management, and Sallie Mae in advancing Deserve’s mission to modernise the credit card stack.

Last year, Visa selected Deserve as a launch partner for its FinTech Fast Track program, which supports digital payment innovation by simplifying collaboration with Visa and launching new FinTech products.

Earlier this summer, under the FinTech Fast Track program, Deserve partnered with BlockFi and Visa to launch the world’s first credit card with Crypto rewards.

“Visa’s Crypto team collaborated with BlockFi and Deserve to launch a crypto rewards credit card that would appeal to crypto enthusiasts and introduce crypto to the masses,” said AJ Shanley, Vice President of Crypto at Visa. “The BlockFi Bitcoin rewards credit card has been an immediate success. We are excited about our partnership and new investment in Deserve and are looking forward to continuing to drive the adoption of crypto powered card programs together.”

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