Baanx has launched a rewards wallet in partnership with Circle, offering crypto holders cashback, fee discounts, and exclusive perks.
Baanx Partners With Circle for Rewards Wallet
Baanx, a cryptocurrency debit card enabler for the likes of MetaMask and 1inch, has introduced a rewards wallet combining on-chain finance with traditional loyalty perks and discounts, using underlying technology from Circle, the provider of the USDC stablecoin.
Baanx is a global fintech company that specializes in digital banking and financial services.
Founded in 2018, the company offers a range of products, including mobile-only banks, payment cards, and cryptocurrency wallets.
Baanx's platform provides users with secure and convenient access to their finances, allowing them to manage multiple currencies, make international payments, and earn rewards on their transactions.
Bridging the Gap Between Blockchain and Everyday Financial Needs
The rewards wallet offering helps bridge the gap between blockchain and everyday financial needs. Baanx Chief Commercial Officer Simon Jones explained that the platform allows crypto holders access to cashback, fee discounts, subscription perks, and exclusive gated experiences. For instance, if you look at the MetaMask card, it’s up to 6% ‘cash-back for the first month’.
Programmable Wallet Infrastructure from Circle
Circle offers programmable wallet infrastructure that allows for adding features to multiple crypto projects without having to change the user interface. The company is pushing USDC as the main treasury token and incentive program within these products, as opposed to ‘Tether [USDT]’.
Partnership Benefits
Sanja Kon, VP of partnerships & business development, Europe at Circle, stated that ‘Circle Wallets provide a fantastic foundation for the Rewards Wallet’ . By integrating this technology, Baanx is bringing real-world value to crypto users in new and exciting ways.
The introduction of the rewards wallet marks an ongoing convergence between traditional card networks and the on-chain world of stablecoins and decentralized finance (DeFi). This partnership helps bridge the gap between blockchain and everyday financial needs, offering unprecedented rewards for non-custodial spend.
