American Express and Abra are launching a new credit card that allows shoppers to earn cryptocurrency rewards “tradable among more than 100 cryptocurrencies” without annual fees or foreign exchange charges Plans.
American Express and Abra Launch Crypto Rewards Credit Card
American Express (Amex) and crypto transaction platform and wallet provider Abra announced the upcoming launch of the Abra Crypto Card on the American Express network on Friday. Abra describes the new card as follows.
The first crypto rewards credit card in the American Express network, it will be traded in US dollars and will return crypto on all purchase categories and amounts.
“Crypto rewards can be traded between more than 100 different cryptocurrencies supported by Abra, with no annual fees or foreign transaction fees.” The crypto company elaborates.
The Abra Crypto Card offers several benefits from the American Express network, including Amex Offers, presale ticket access, global dining benefits, and purchase protection, Abra further noted.
Mohamed Badie, President of Global Network Services at American Express, commented, ” One of the ways we are helping commerce evolve and innovate is by making it easier for fintech companies to develop and extend innovative payment solutions that leverage American Express’ global payment network and the Amex/i2c platform.” The Amex executive added, “We have a longstanding relationship with Abra through the Amex Ventures investment portfolio.” He added.
Interested customers can now join a waiting list for the card, which Abra expects to be “first available in late 2022.”
In addition, the crypto company announced on Friday a new feature to buy and sell non-fiat tokens (NFTs).” A complete collection gallery of managed custody and Abra apps takes away the hassle and minimizes the risk of using devi (decentralized finance) wallets.”
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