Visa Introduces A Unique ‘No-Limit’ Bitcoin Card In The UAE.

According to a press statement issued on July 3, VISA, the world’s largest payments network, has launched an exclusive VIP crypto credit card named ‘bitcoinblack’ in the United Arab Emirates.

According to the Visa press release, the card, which was initially introduced in 2021, is only available by invitation to 10,000 users worldwide, and it allows them to convert their Bitcoin (BTC) and other key cryptos into spendable cash. The invitation can be obtained through the bitcoinblack website.

According to reports, the card is secured by the holder’s cryptocurrency and offers premium perks such as a no-spend limit anywhere Visa is accepted, as well as rewards of up to 10% back in special SPND tokens.

As a result, owners of this exclusive card can spend their rewards on various luxury items in bitcoinblack’s Haute Living Luxury Marketplace, which is described as “a curated online boutique that includes luxury watches, purses, cars, charter jet deals, private mansion access, and more,” and is set to launch soon.

In response to this news, bitcoinblack CEO Prakash Chand stated:

“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 stated, the card is simple to use for anyone:

“All members need to do is simply load up their crypto through the web app or soon-to-come secure bitcoinblack wallet app, and they’re instantly empowered to spend their crypto with the best conversion rates and high limits.”

Luxury goods accessible via cryptocurrency isn’t a novel idea, as firms increasingly target millennials and their parents. Some premium watchmakers, like Tag Heuer, Hublot, and Breitling, are now accepting cryptocurrency payments for their products.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Patrick

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