Wednesday, July 17, 2024

Mastercard and Visa

By DAC000 , in mastercard Visa , at August 24, 2022 Tags: ,

are both offering cryptocurrency backed debit cards, working with Binance. About a one minute read.

Comment: further evidence of incumbents pushing out Fintech startups who already offer this service (hello!!). I never liked offerings from Fintechs because they didn’t address tax issues (e.g., buy BTC today, spent some in one week after BTC rises in price, you have a taxable gain that they can’t / won’t calculate) but early indications are both Mastercard and Visa will track taxes. Oh, Bitcoin back instead of cashback is an added plus!