Japanese crypto exchange Bitbank has launched a crypto-linked credit card that allows users to settle bills with assets held on its platform.
Summary
- Bitbank users can settle monthly credit card bills directly with bitcoin held on the exchange.
- The EPOS Crypto Card offers 0.5% cashback in bitcoin, ether, or Aster to users monthly.
- Bitbank and EPOS may add more crypto payment options after the bitcoin-only launch in Japan.
The product marks a new step for crypto payments in Japan’s regulated market.
The card, named “EPOS Crypto Card for Bitbank,” was launched through a partnership with EPOS Card, the fintech arm of Marui Group. Bitbank said the service is the first in Japan to let credit card bills be settled directly from crypto exchange balances.
Bitcoin bill payments added for users
The card allows users to pay monthly credit card bills with bitcoin from their Bitbank accounts. The payment feature is currently limited to bitcoin, according to the company’s Monday release.
Bitbank said the service gives crypto holders another way to use digital assets without moving funds to another platform. The exchange and EPOS Card may consider adding more cryptocurrencies later.
Moreover, the EPOS Crypto Card for Bitbank also offers 0.5% cashback in crypto on monthly spending. Users can receive rewards in bitcoin, ether, or Aster.
The rewards will be deposited into users’ Bitbank accounts. This setup keeps the cashback inside the exchange and gives users direct access to their crypto rewards.
Japan’s crypto card market sees more activity
Bitbank’s launch follows growing activity around crypto-linked cards in Japan. Binance Japan introduced its own Binance Japan Card in January, allowing users to earn BNB from card spending.
The Bitbank card takes a different route by focusing on bill settlement from exchange-held crypto assets. The launch shows how Japanese crypto firms are adding payment services while working within local market rules.
