Australia’s First XRP Reward Card Program Launches

August 9, 2022 9:46 pm Comments

A firm called CryptoSpend just launched Australia’s first Ripple (XRP) reward card program which will reward its users with XRP.

Essentially, all of CryptoSpend’s fiat and crypto spenders will be able to get a new 3% bonus on all payments which will be paid in XRP.

This is a new initiative that may eventually influence other major card programs to do the same as the appeal for crypto becomes greater and greater.

With this being the first in Austrailia, a success being demonstrated here could also mean that such reward programs also come to other regions within the world such as the United States and Europe.

TheCryptoBasic reports:

According to an announcement by local news outlet Australian Fintech, the initiative will see CryptoSpend’s fiat and crypto spenders get up to a 3% bonus in XRP within the same day of making a purchase.

Andrew Grech, the CEO of CryptoSpend, said:

“This XRP rewards card program is all about bringing additional value to our customers and CryptoSpend cardholders.

By rewarding CryptoSpend Card users up to 3% back in XRP through the CryptoSpend app on the same day they spend, it provides another fantastic value-add for our customers.”

According to Grech, customers who spend Australian Dollars (AUD) will also be rewarded with a 3% bonus in XRP.

This will also help significantly speed up the adoption of the use of XRP for everyday transactions as users who earn XRP through this rewards program will also have the need to spend it.

By allowing users to spend the XRP on payments again, this will create a loop where they are earning XRP by spending money and then being forced to spend the XRP that they accumulated.

The firm CryptoSpend had partnered with Visa and Novatti Group to launch their crypto card last year and such crypto cards have already become extremely popular.

Having a rewards program in addition to these crypto cards just makes the offer even better for crypto enthusiasts.

TheCryptoBasic reports:

Grech said the company had observed many Australians using their crypto assets for everyday items, including groceries and food.

“We have seen the popularity of Australians using crypto for their everyday spending increase massively. Not only have we seen a huge increase in people using the card for spending crypto, but we have also seen our repeat users increase daily,” Grech said, adding:

“This means people are not only using crypto on everyday items, but they are coming back to it day-in, day-out. It’s a new way of how people want to spend on consumer goods.”

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