The Voyager Debit Mastercard will be based on the stablecoin USD Coin.
Cryptocurrency platform and exchange Voyager Digital has announced a new Mastercard debit card based on the USD Coin (USDC) stablecoin.
A new entrant in what is becoming an increasingly crowded field of bitcoin and crypto debit cards, the Voyager Debit Mastercard will pay up to 9% annual rewards to cardholders. These are paid monthly. Pre-registration opened on November 16.
Voyager Loyalty Program members can earn up to 10.5%, depending on their tier, along with crypto back on debit card purchases.
Beyond that, Voyager offered account holders rewards of up to 12% for holding 30 of the firm’s 60 supported cryptocurrencies in their wallets in November. The Voyager token offered 7%, Bitcoin pulled in 5.75%, Ether 4.6%, and Dogecoin 2%.
Competitors in the crypto debit card field now include Binance, BitPay, BlockCard, BlockFi, Coinbase, Coinzoom, Cryptopay, Gemini, Monolith and Wirex.
In a release, Voyager CEO Steve Ehrlich said:
"By basing our debit card on the USD Coin (USDC), a stable coin priced 1-to-1 to the US dollar, we are offering customers a predictable and rewarding way to hold and easily convert crypto for payments, while offering Voyager Loyalty Program members additional rewards."
Features include no annual fees, and no requirement to lock funds to earn rewards. The cards also come with an account and routing number, enabling direct deposits, which are automatically converted into USDC.
Growth and Partnerships
Voyager has announced rapid growth, with the number of funded accounts growing from 43,000 on New Year’s Day to one million as of November 10. It also announced having passed 2.7 million verified users.
It’s been a good year for the firm, which went public in September, listing on the Toronto Stock Exchange as VOYG. It also added several sports partnerships, including brand ambassador deals with NFL star Rob Gronkowski. Others include deals with NBA star Tracy Mcgrady and NFL Hall-of-Famer Marshall Faulk, and a sponsorship of NASCAR driver Landon Cassill — on whose car it placed a Shiba Inu sticker.
