Reading Time: 2 minutes
by
Evan Ezquer
on
December 17, 2020 Bitcoin
Quontic Bank becomes a pioneer FDIC-insured financial institution to launch a Bitcoin rewards checking program, as announced yesterday in a press release by PR Newswire.
Earn Bitcoins While Shopping
According to the announcement, users of this reward system would have access to surcharge-free ATMs, ApplePay, GooglePay, SamsungPay, and Zelle peer-to-peer payments at no cost. In addition, customers would also be able to earn at least 1.5% back in Bitcoins on any eligible purchases they make with their Quontic debit cards.
The bank is working with NYDIG, a Bitcoin specialist firm that would act as the custodian of the crypto asset. The bank would also be working with FIS to build a mobile app that would keep track of such Bitcoin rewards. It is expected that the app would be launched by the second quarter of 2021.