As the cryptocurrency industry grows, more businesses are recognising its benefits and looking for ways to integrate digital assets into their operations and provide crypto-related services to their clients.
According to a press release dated July 3, one of these companies is VISA (NYSE: V), the world’s most extensive payments network, which has created an exclusive VIP crypto credit card called ‘bitcoinblack’ in the United Arab Emirates.
VISA offers exclusive VIP crypto credit cards in the UAE. Image: Kryptomoney
According to the press release, the card introduced in 2021 is restricted to 10,000 users worldwide and lets them transfer their Bitcoin (BTC) and other major cryptocurrencies into fiat currency. Invitation requests may be made via the bitcoinblack website.
Reportedly, the card is protected by the holder’s cryptocurrency and provides premium perks such as a no-spend limit everywhere Visa is accepted and incentives of up to 10 % back in special SPND tokens.
Easy crypto access to premium stuff
As a result, this exclusive card permits its owners to redeem rewards for a variety of luxury items in bitcoinblack’s Haute Living Luxury Marketplace, “a curated online boutique that includes luxury watches, purses, cars, charter jet deals, private mansion access and more,” which is expected to launch soon.
Commenting on this development, bitcoinblack CEO Prakash Chand said:
“People with incredible wealth in crypto needed a way to spend their crypto easily and be rewarded for it. (…) bitcoinblack is perfectly suited for high networth individuals who want to use their crypto for business or pleasure wherever they are in the world, including the 140+ countries where Visa is accepted.”
As he said, the card is simple for anybody to use. All members need to do is load their crypto using the online app or the soon-to-be-released safe bitcoinblack wallet app, and they’re immediately able to spend their crypto with the greatest conversion rates and large limits.
Accessible luxury goods through cryptocurrency is not a novel notion, as firms increasingly target millennials and their parents. Many premium watchmakers, including Tag Heuer, Hublot, and Breitling, now let buyers purchase items using cryptocurrency.