Business News Report
December 22, 2022

Crypto exchange Huobi and Visa plan to launch the Huobi Visa card

In Brief

Huobi and Visa announce the upcoming launch of the Huobi Visa cards

Cardholders will receive access to perks, among which are cash back earnings, APY booster coupons, and trading fee rebates

The initiative will first launch in several European markets

Seychelles-based cryptocurrency exchange Huobi partners with financial giant Visa to launch the Huobi Visa card. The companies aim to bring their users a convenient and efficient fiat-to-crypto gateway. In addition, Visa and Huobi will promote the evolution and adoption of the virtual asset industry.

The Huobi Visa Card will be connected to the exchange’s users’ accounts. So, cardholders will be able to use their cryptocurrency assets to pay for items and services at 80 million merchants globally. More than that, holders will receive perks, including cash back earnings, APY booster coupons, trading fee rebates, sure-win coupon airdrops, and merchants’ benefits. Notably, the cards will be issued in five tiers: Scout, Adventurer, Navigator, Explorer, and Expert.

To launch the initiative, the companies will roll out the Huobi Visa card in several European markets. Following, the cards will be available worldwide. The organizations have not shared the exact launch date yet. 

“The launch of the Huobi Visa Card marks a significant milestone in Huobi’s push in making virtual assets accessible to everybody. Huobi and Visa are both prominent leaders in their respective industries. With the Huobi-branded card, we hope to contribute towards global financial inclusion,”

said a member of Huobi’s Global Advisory Board, Justin Sun. 

In October, Visa partnered with the former second-largest cryptocurrency exchange FTX to launch a similar initiative just a month before FTX’s unexpected bankruptcy caused by a liquidity crisis of $FTT. The companies were supposed to release debit cards in 40 countries. After approximately a month of investigation, the company’s co-founder Gary Wang and former Alameda Research co-CEO Caroline Ellison pleaded guilty to federal charges. FTX’s former co-founder Sam Bankman-Fried was arrested in the Bahamas on December 12. 

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

More articles
Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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