StormX Raises $9M in Funding Round for Rewards Debit Card, US Growth

Crypto cashback app StormX has secured $9 million in a funding round led by Optimista Capital to support its plans for a debit card and to expand across the U.S. later this year.

• The funding will also be used to make the app interface more user-friendly and make it easy for customers to sign up for the debit card, the firm said.
• StormX said the debit card will launch in the U.S later this year, and then in the rest of the world. The card will offer users in-store rewards in 15,000 locations in partnership with retail and food and beverage companies.
• In June, StormX announced the Portland Trail Blazers will feature StormX advertising patches on their jerseys under a sponsorship deal with the National Basketball Association team.
• The new funding will also be used to hire new employees and to increase athlete and e-sport marketing, the firm said.

Read more: Portland Trail Blazers to Wear NBA’s First Crypto Ad Patch (Sorry, PayPal)