Reap's Virtual Asset Ledger Simplifies Spending Crypto with Cards

Hong Kong-based fintech company Reap has launched a Virtual Asset Ledger that allows users to spend bitcoin and other virtual assets using their cards, regardless of the underlying balance type.

The ledger uses a price set by the client for conversion at the point of sale, eliminating the need to sell an asset or convert it into a stablecoin before spending. This feature is available through Reap's existing API and supports bitcoin and other cryptocurrencies as well as stablecoins, cashback, loyalty points, credit lines, and allowances.

The Virtual Asset Ledger is designed for exchanges, wallets, fintech companies, and other platforms that want to connect multiple asset types to a single card program. According to Reap's product documentation, clients can define assets and pricing methods, maintain user balances, and send balance updates to Reap.