Fintech Firm Brex Launches Crypto Rewards Program for Business Clients

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.

• 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.