Fintech startup Strike launches new Visa Card to allow payments in Bitcoin

Strike, the leading blockchain-based startup, entered into a collaboration with financial giant Visa Inc. to offer crypto rewards through its new crypto card. The startup also said that access to the card could be granted by joining a waitlist.

Digital currency-based payment protocol Strike, built on the Lightning Network, has announced the launch of a new payment card from financial giant Visa. As revealed by Strike’s owner Jack Maller, the Strike Visa card can be used around the world, leveraging its wide-reach partnering payment outfit.

The Lightning Network’s speed and low-cost capability, coupled with the security of the Bitcoin blockchain have helped establish Strike as a go-to payment protocol by now.

Through the link-up with Visa, Strike aims to provide a robust financial service via one application. Through its platform, users can “get your direct deposit, get paid in #Bitcoin, buy #Bitcoin, send and receive money with friends, spend your money anywhere with Apple Pay and Google Pay, and earn instant rewards while spending, all with no added fees,” the company said on Twitter.

Backing Bitcoin, Strike also claimed that it will donate 1% of all its transaction fees and profits to open-source Bitcoin development.

“Given our relationship with #Bitcoin and our vision for the future, we will be taking 1% of all Strike Card profits and donating them to open-source #Bitcoin development,” Strike tweeted.

The startup also said that access to the card could be granted by joining a waitlist.

Back in April, Strike was in the spotlight when it announced its strategic partnership with Canadian e-commerce company Shopify Inc, allowing its users to make payments for goods and services in crypto while merchants can receive such payments in fiat. This deal fueled up the utility of the Strike and extended the positive outlook of the broader crypto ecosystem at the time.

Meanwhile, Visa lately formed a bond with many renowned payment startups and crypto trading platforms around the world, including Binance, Crypto.com, and ByBit, to give their users an avenue to make use of their digital currencies.