Payments giant Visa is partnering with cryptocurrency start-up BlockFi to offer a credit card that rewards purchases with Bitcoin rather than airline miles or cash.
Users of the Bitcoin Rewards Credit Card will receive 1.5 per cent of their purchases back in the world’s most valuable digital asset, and a lump sum of $250 in the crypto asset if they spend more than $3,000 in the first three months, BlockFi said in a statement. The card, which comes with a $200 annual fee, will be issued by Evolve Bank & Trust.
Mainstream adoption of Bitcoin received a boost from Visa earlier this year, when the credit card giant joined start-up Fold to offer a debit card that earns rewards denominated in the cryptocurrency.
Visa’s approach to crypto has been evolving. Just two years ago, it was in a public fight with the Coinbase exchange over issues related to purchases made using its cards. Then, in February, Coinbase and Visa announced the Coinbase Card, which allows users to spend Bitcoin using the Visa debit card.
“We’re excited to add credit cards to our suite of products and expand Bitcoin’s accessibility to a broader set of consumers,” Zac Prince, chief executive and founder at BlockFi, said in the statement. The company hopes to make the card available in early 2021.
Bitcoin has rallied more than 160 per cent this year, sparking debate over whether the run-up shows it’s becoming a store of value or is in a bubble.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Key findings
- Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
- Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase.
- People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”.
- Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better.
- But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.
The National in Davos
We are bringing you the inside story from the World Economic Forum's Annual Meeting in Davos, a gathering of hundreds of world leaders, top executives and billionaires.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
