US-based blockchain firm Ternio has introduced a rewards programme on its BlockCard debit card.
Effective immediately, BlockCard users will earn a 6.38% cashback in the form of cryptocurrency on all merchant purchases made using the card.
The company has placed no cap on the rewards earned. Ternio said that customers will earn 6.38% back on all merchant purchases irrespective of the value of the transaction.
All the new and existing BlockCard will be eligible to earn the reward points, which can be used instantly on BlockCard at over 53 million merchants globally.
All point-of-sale purchases such as gas, groceries, mobile phone bills, and others are entitled to these rewards without any limitations.
The rewards will be automatically added to the BlockCard account every month.
Ternio co-founder Ian Kane said: “At Ternio, we always want to push the idea of what’s possible in the cryptocurrency space while driving value for our ecosystem.
“This rewards program will surely raise some eyebrows inside the crypto community and is another step towards driving mass adoption of cryptocurrency to people on the side-lines.”
The BlockCard has unique functions like instant virtual card issuance, rate cuts of 90%, and compatibility with Apple, Google, and Samsung Pay, among others.