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Fintech Firm Brex Launches Crypto Rewards Program for Business Clients
The firm's business customers include Airbnb, Carta, Classpass and Y Combinator.
Brex, a San Francisco-based financial firm, has introduced a cryptocurrency rewards program for business clients, allowing them to redeem points for bitcoin and ether.
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- The company has formed a partnership with TravelBank to offer the program, Brex said Wednesday.
- Business clients, including Airbnb, Carta, Classpass and Y Combinator, will be able to redeem points for crypto in what Brex says is the first such program for businesses.
- Sam Blond, Brex's chief sales officer, said the company has been considering decentralized finance and the crypto market.
- The company offers business credit cards and cash-management accounts and provides bookkeeping to tech firms.
- The addition of the new option to the rewards program, which was launched in 2018, reflects Brex’s belief that cryptocurrency will play a big role in the future of finance, the firm said.
- The company completed the Y Combinator accelerator funding program for startups in 2017 and has raised over $940 million in venture capital.
See also: Taking Stock of How Far Crypto Has Come
Correction (May 12, 15:38 UTC): Coinbase is not partnering with Brex on the product. Users can deposit rewards into crypto wallets like those offered by Coinbase.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
