U.S. markets closed
  • S&P Futures

    4,345.50
    +27.75 (+0.64%)
     
  • Dow Futures

    34,225.00
    +182.00 (+0.53%)
     
  • Nasdaq Futures

    14,138.50
    +151.75 (+1.08%)
     
  • Russell 2000 Futures

    1,936.10
    +7.80 (+0.40%)
     
  • Crude Oil

    87.00
    +0.39 (+0.45%)
     
  • Gold

    1,798.20
    +5.10 (+0.28%)
     
  • Silver

    22.77
    +0.10 (+0.44%)
     
  • EUR/USD

    1.1156
    +0.0009 (+0.08%)
     
  • 10-Yr Bond

    1.8070
    -0.0410 (-2.22%)
     
  • Vix

    30.49
    -1.47 (-4.60%)
     
  • GBP/USD

    1.3401
    +0.0020 (+0.15%)
     
  • USD/JPY

    115.3700
    +0.0680 (+0.06%)
     
  • BTC-USD

    37,286.65
    +1,150.42 (+3.18%)
     
  • CMC Crypto 200

    844.76
    +25.25 (+3.08%)
     
  • FTSE 100

    7,554.31
    +84.53 (+1.13%)
     
  • Nikkei 225

    26,720.06
    +549.76 (+2.10%)
     

Visa Makes Investment in Credit Card Tech Startup Deserve

·1 min read

Deserve said it received a strategic investment from Visa Inc. after an earlier report from Bloomberg on the relationship.

  • Deserve launched a Visa credit card in partnership with cryptocurrency financial services provider BlockFi in July. The card allows customers to earn rewards in the form of bitcoin.

  • Visa chose Deserve last year as a partner for its Fintech Fast Track program, which supports digital payment innovation, according to the statement

  • Mastercard previously invested in Palo Alto, California-based Deserve in June in a $50 million funding round that valued the company at more than $500 million, according to Bloomberg.

  • Visa also joins additional investors including Goldman Sachs Asset Management and Mission Holdings

  • Transaction volume for the card is approaching $2 billion on an annualized basis, and BlockFi cardholders are projected to spend roughly $30,000 per year, 50% above that of average credit card holders, Deserve’s co-founder and CEO Kalpesh Kapadia told Bloomberg.

Read more: Mastercard Is Integrating Crypto Payments Through a New Partnership With Bakkt