Visa has reportedly forged an alliance with BlockFi to roll out a new credit card, featuring Bitcoin (BTC)-based user rewards, laying the foundation for great mainstream crypto adoption. 

Specifically, BlockFi – a startup from New York focused on crypto-supported loans and savings accounts – reportedly disclosed details of its new collaboration. 

The new credit card project will reportedly issue rewards for any purchases in the form of Bitcoin – instead of airline miles or other cashback rewards. 

Cardholders will reportedly be rewarded up to 1.5% of their purchases back in the form of Bitcoin. 

The issuance for the card – with an associated yearly fee equivalent to $200 – will reportedly be in charge by Evolve Bank & Trust.

Despite the card being rolled out to the general audience at the start of next year, the signup process for BlockFi account holders can be finalized before that time. 

“BlockFi is excited to add credit cards to our suite of products and expand Bitcoin’s accessibility to a broader set of consumers,” Zac Prince, founder and current Head of BlockFi, reportedly remarked regarding the development. 

The alliance forged with BlockFi is reportedly included in Visa’s Fintech Fast Track Program, which has a primary goal of “speeding up the process of integrating”, using the credit card network. 

Visa has conducted initiatives into the crypto sphere previously. In early 2020, the credit card firm teamed up with digital startup Fold to release a debit card that earns crypto-based rewards.