Blockrize, a San Francisco-based credit card, aims to pay users 1% "crypto back" rewards

 

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A new San Francisco-based credit card called Blockrize that will offer its rewards in cryptocurrencies like bitcoin has a 2,000-person waiting list, despite not yet having a banking partner to back it.

Blockrize, according to MarketWatch, is the brainchild of Thomas Harrison, a 25-year-old entrepreneur based in San Francisco. Harrison created the one-man company after an executive stint at polling app Whatsgoodly, which closed during summer 2017.

MarketWatch reports that:

The card would offer 1 percent of the value of users’ purchases back in cryptocurrency, initially just bitcoin and ethereum, every time they buy something ... Card holders would be able to choose if they want to invest in bitcoin, ethereum or a 50/50 mix of the two. His hope: Blockrize holds all the cryptocurrencies for its card holders and will allow them to buy and sell with one another for no fee. If they want to buy and sell with digital wallets outside of Blockrize’s network, there would be a “small fee,” Harrison said, that will vary by type of transaction.

 
You can read more about Blockrize here.
 
 
Source: Biz Journals
 

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Original article here: http://www.aimhighwithvanicci.com/blockrize-a-san-francisco-based-credit-card-aims-to-pay-users-1-crypto-back-rewards/
 
*Featured Image via Blockrize
 
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