Visa Bets on Deserve After BlockFi Crypto Credit Card Success

Visa Inc. has joined rival Mastercard Inc. as an investor in Deserve, the credit-card technology startup’s chief executive officer said in an interview.

“Our partnership with Visa in crypto will power interesting use cases around rewards, payments and settlements for credit card transactions,” Deserve co-founder and CEO Kalpesh Kapadia said.

Kalpesh Kapadia

Source: Deserve

Deserve launched a Visa credit card in partnership with cryptocurrency financial services provider BlockFi in July.

The card has achieved “tremendous growth” measured by adoption and usage, and is approaching $2 billion in annualized transaction volume, Kapadia said. BlockFi cardholders are projected to spend roughly $30,000 per year, 50% ...