Baanx and Circle collaborate on rewards wallet for crypto holders
Baanx launches Rewards Wallet with Circle
Baanx, the crypto debit card provider behind projects for MetaMask and 1inch, has unveiled a new rewards wallet built using Circle’s programmable wallet technology.
The initiative is designed to integrate traditional loyalty benefits—such as cashback and subscription perks—with blockchain-based payment infrastructure, further bridging the gap between Web3 and everyday financial tools, reports CoinDesk.
The newly announced Rewards Wallet leverages Circle’s USDC stablecoin as its primary treasury asset and incentive mechanism. The wallet is aimed at non-custodial card users, offering up to 6% cashback in USDC for the first month, according to Baanx Chief Commercial Officer Simon Jones. “We’ve built the Rewards Wallet using Circle to offer rewards on a crypto debit card that are unprecedented,” he said.
Circle, the issuer of the $60 billion USDC stablecoin, has increasingly expanded its programmable wallet infrastructure, allowing projects like Baanx to build enhanced wallet functionalities without altering front-end interfaces. The partnership reflects a growing trend of mainstream finance converging with blockchain: Mastercard has previously partnered with MetaMask, and Visa has reportedly explored similar ventures.
Circle technology powers user-friendly DeFi experience
Circle’s infrastructure enables customizable wallet functions, helping developers roll out features like gated experiences, subscription rewards, and fee discounts. “Circle Wallets provide a fantastic foundation for the Rewards Wallet,” said Sanja Kon, Circle’s VP of partnerships in Europe. “By integrating this technology, Baanx is bringing real-world value to crypto users in new and exciting ways.”
While stablecoin-backed debit cards have been available for years, the partnership signals a broader push toward making Web3 payments more accessible, rewarding, and practical for everyday users.
As competition in crypto payments intensifies, Baanx’s USDC-focused product could serve as a template for future loyalty-driven decentralized finance tools, with user incentives increasingly tied to mainstream financial habits.
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