HashKey and Visa launch crypto-linked credit card in Hong Kong

The product, known as the Shanghai Commercial Bank HashKey Visa Signature Credit Card, operates by converting reward points into HKD cash vouchers on a monthly basis. Users earn one point for every HK$1 spent, with 250 points equating to HK$1 in voucher value. While the card provides a pathway for trading, it does not facilitate direct cryptocurrency payments at the point of sale. Instead, it offers a regulated mechanism to funnel everyday retail spending into the digital asset ecosystem. Promotional offers currently include up to 4% rewards on overseas transactions and 2% on local spending.

Management of the card is split between the three partners to maintain regulatory compliance. Shanghai Commercial Bank serves as the issuer, handling all credit services and application approvals, while Visa provides the global transaction infrastructure. HashKey Exchange facilitates the voucher redemption process within its platform. Eligibility requires applicants to be at least 18 years old, maintain a HashKey account, and reside in Hong Kong. The launch follows a strategic push by HashKey to broaden its financial services beyond speculative trading, aligning with a wider trend in Asia where financial institutions are increasingly integrating digital assets with familiar payment rails.