The new card, which will be issued by Evolve Bank & Trust, seeks to serve the crypto-curious who are finding ways to add Bitcoin holdings to their investments. It "offers an easy entry point, enabling consumers to accrue Bitcoin through everyday spending," BlockFi said.
"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, BlockFi's CEO and founder, said in a statement. "This card makes it simple and risk-free for people to gain or increase exposure to a new asset class without changing their spending or investing habits."
Visa's adoption of Bitcoin didn't start with BlockFi. In April, the credit card firm partnered with startup Fold to offer rewards denominated in Bitcoin. In February, Visa and Coinbase announced the Coinbase Card, which allows users to issue Bitcoin using debit cards.
Bitcoin has rallied 166% this year and hit record highs near $20,000 in the last week, driven by institutional buy-in and investors looking for a hedge against the devaluation of traditional paper money.