Abra, the digital asset financial services company, has announced a new crypto rewards card to transact in U.S. dollars, offering crypto back, a press release said Friday (June 10).
The card, called the Abra Crypto Card, has the ability to do this for any purchase category and amount.
The release says cardholders will be able to use the Abra Crypto Card with no annual or foreign transaction fees. It will also offer some American Express benefits, like Amex Offers for shopping, travel, dining, entertainment and more.
This also comes as Abra has announced a new fully integrated way to buy and sell NFTs, which the company says will help out with removing risks of DeFi wallets.
It will help the company with what it said its goal is an “open, global financial system” which will be accessible to everyone.
“We’ve made it super easy for anyone to trade crypto, earn interest, and borrow against crypto holdings in one, integrated app,” said Bill Barhydt, founder and CEO of Abra. “Our partnership with American Express will now make it even easier to access and earn crypto. The news also represents another step toward Abra’s goal of eventually offering an instant line of credit directly at the point of sale. This is the future of payments.”
There have been numerous efforts to make it easier to use new digital assets, including Mastercard’s recent work teaming up with NFT markets to allow for payments for the digital artwork, PYMNTS wrote.
Mastercard is working along with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and Web3 infrastructure provider MoonPay on this initiative, letting people buy NFTs using the marketplaces for their crypto services.
NFT marketplaces are a big part of the NFT sphere, having generated more than $25 billion in sales last year.