Visa (NYSE:V) is partnering with cryptocurrency startup BlockFi to release the world’s first Bitcoin cashback credit card. The card will be issued by Evolve Bank with the assistance of credit card startup Deserve.

Each card transaction will return 1.5%. Cashback will be accumulated, then automatically converted into bitcoins and credited to your BlockFi account, writes Forbes.

In addition to the credit limit with a specified interest-free period, BlockFi will give customers a welcome bonus of $250 in Bitcoin if the card spend exceeds $3,000 in the first three months.

The card will be metal, similar to the Apple (NASDAQ:AAPL) card that the company launched with Goldman Sachs. Annual servicing of a new VISA credit card will cost $200.

Initially, the card will only be available in the United States. BlockFi has opened a waiting list on its website for those who want to receive it, but only those who have replenished BlockFi accounts will be able to sign up for it. The list will become available to everyone else in January, and cards will begin to be sent out in the spring of 2021.

As the publication recalls, back in April, Visa agreed with the startup Fold to issue a debit card with cashback in cryptocurrency, and even earlier, with the cryptocurrency exchange Coinbase to issue a card with which you can spend bitcoins. Bitcoin this year hit a new high since 2017, exceeding $19,800.

This was fueled in part by the announcement in October that PayPal would give customers the ability to buy, store and sell cryptocurrencies in a PayPal wallet.

VISA shares are down 0.17% in NYSE premarket trading.