American Express Credit Card owners Possibly Able To Redeem Points For Cryptocurrencies. However, the company was associated with using cards for Stablecoins.
According to indications by Stephen Squerri, CEO of American Express. He directed that we are exploring other ways potentially to redeem your membership. But I don’t think you are going to see an American Express card connected to\crypto currency anytime soon.
Additionally, American Express card owners in the upcoming future will be able to redeem points for cryptocurrencies. But for now, the American express firm has no instant strategies to introduce cryptocurrency-linked credit cards.
Facilities Of Crypto For American Express Card Owners:
Furthermore, in a recent interview with Yahoo Finance, the Amex CEO Stephen Squeri said that “ probably we are not going to see an Amex crypto linked credit card soon. However, the firm was included in using cards for Stablecoins. And keeping an eye on central bank digital currency developments by the US government.”
Moreover, he added that he considered popular cryptocurrencies such as bitcoin (BTC)as more of an asset class, for example, gold. But didn’t they would enable payment in an exact way as credit cards given their rate volatility.
Words by Squeri:
“You don’t have the service with [crypto], you don’t have the dispute rights with it, you’re not getting rewards, and you’re not extending credit,” All of those values that occur within a credit card do not lend themselves to cryptocurrency”
Visa and Mastercard appear to be in the frontwards of Amex. When it is about teaming up with the companies for crypto advantages from card holders’ buying. Earlier in 2021 Gemini, a crypto exchange introduce its own credit card. That enables users to earn more than 3% back in Bitcoin. Also, BlockFi proclaim that it had united with Visa. To allow card owners’ to get 1.5% of their buying back in BTC.
The advantages are not bounded to the credit card owners’ situated in the United States. As it is sometimes the matter for travel and hotel rewards. Also, last December Mastercard announced that it would be introducing a crypto-linked payment card over the Asia Pacific region, that will allow users to change digital assets into fiat.
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Disclaimer: We are not experts or financial advisors. Kindly, take your decisions at your own risk.