Exclusive: Solayer launches crypto rewards Visa debit card

This is a segment from The Drop newsletter. To read full editions, subscribe . Crypto firm Solayer is releasing a debit card for crypto users, the company shared exclusively with Blockworks. The card, called the Emerald Card, will use the Solayer Infini Solana Virtual Machine (SVM) L1 chain. The Emerald Card will be available in over 100 countries, including the US, and it has an Apple Pay and Android Pay integration, according to a press release. A rewards program tied to the card is expected to launch soon, allowing cardholders to earn crypto, airdrops and access staking. Solayer will use SolanaID — an account system from Bulgarian firm Digitalsocial — for the card. This system identifies users and lets them link multiple wallets across chains to create a single identity, which may then be offered rewards, discounts and access tailored to their trading profile. “We’re excited to work with Solayer to help bring off-chain spending into the world of on-chain reputation,” said SolanaID Head of Growth Ben Showard in a statement. “Emerald Card is a huge step forward in connecting real-world activity with your crypto identity — and we’re proud to support a product built for users who move the ecosystem forward. Emerald Card is not only transforming your yield-bearing digital assets into real-world dollars to spend at every corner, it is also a path for users to build up their internet reputation utilizing Solana ID,” Showard added. The card is first being made available to 40,000 users via a community sale. New registrations will open at a later date. It’s not the first crypto card to hit the market, though, so it’ll have to compete with the others out there. There’s the Solana SolCard and the Gnosis Pay debit card, for example. Avalanche announced a Visa-powered credit card back in February, and MetaMask unveiled something similar that month using Mastercard.

Source: Blockworks