BaAnx, a cryptocurrency debit card enabler such as Metamask and 1inch, has introduced reward wallets that combine on-chain finance with traditional loyalty perks and discounts using the underlying technology of Circle, the provider of USDC Stablecoin.
Built on top of Circle’s programmable wallet technology, the BaAnx platform allows Crypto Holders to access cashback, discounts, subscription benefits and an exclusive gate experience.
The ongoing convergence between traditional card networks and the on-chain world of stubcoin and distributed finance (DEFI) has led MasterCard to become a partner with Web3 wallet metamask, and more recently Visa’s report in a meeting with Sam Altman’s World Network.
Simon Jones, Chief Commercial Officer of BaANX, said the provision of reward wallets will help bridge the gap between blockchain and everyday financial needs.
“We built Rewards Wallet using Circle to provide rewards for unprecedented crypto debit cards, so we encouraged our users to go down the non-biological spending route,” Jones said in an interview. “For example, if you look at your Matamask card, you’ll get up to 6% cashback for the first month.”
Famously known as the creator of the $60 billion Stablecoin USDC, Circle offers a programmable wallet infrastructure that allows you to add functionality to multiple cryptographic projects without changing the user interface, Jones said.
“We are driving USDC as the main financial token and incentive program within these products, in contrast to Tether (USDT),” he said.
Sanja Kon, vice president of Partnerships & Business Development, said in a statement Europe, Circle’s Europe: “Circle Wallets provide a great foundation for reward wallets. By integrating this technology, BaAnx brings real-world value to Crypto users in new and exciting ways.”
