Abra will offer crypto rewards on the Amex network card

Abra, the digital asset financial services company, has announced a new crypto rewards card for transacting in US dollars, offering crypto return, a press release announced Friday, June 10.

The card, called Abra Crypto Card, has the ability to do this for any category and purchase 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 certain American Express benefits, such as Amex offers for shopping, travel, dining, entertainment and more.

It also comes as Abra announced a new, fully integrated way to buy and sell NFTs, which the company says will help take the risk out of DeFi wallets.

This will help the company with what it said its goal is an “open global financial system” that 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 collect crypto. The news also represents another step towards Abra’s goal of eventually offering an instant line of credit directly at the point of sale. This is the future of payments.

See also: Mastercard partners with NFT marketplaces for ‘easier and safer’ purchases

There have been many efforts to facilitate the use of new digital assets, including Mastercard’s recent work in conjunction with NFT marketplaces to enable payment for digital artwork, PYMNTS wrote.

Mastercard is working with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway and Web3 infrastructure provider MoonPay on this initiative, allowing people to buy NFTs using marketplaces for their crypto services.

NFT markets make up a large part of the NFT sphere, having generated over $25 billion in sales last year.

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NEW PYMNTS DATA: THE CUSTOM PURCHASING EXPERIENCE STUDY – MAY 2022

About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are succeeding and where they need to up their game to deliver a personalized shopping experience.

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