HashKey Exchange, Shanghai Commercial Bank and Visa launched a co-branded credit card in Hong Kong.
Summary
- HashKey members can earn up to 4% rewards, converted monthly into HKD cash vouchers automatically.
- Cardholders may use vouchers to buy supported cryptocurrencies or offset trading fees on HashKey Exchange.
- Shanghai Commercial Bank issues the card, while Visa provides global payment acceptance and transaction infrastructure.
Eligible HashKey Exchange members can apply for the Shanghai Commercial Bank HashKey Visa Signature Credit Card through the two companies’ mobile applications.
The card links everyday spending with rewards that customers can use on the licensed exchange. The program does not pay cryptocurrency directly. Instead, it converts reward points into HashKey HKD Cash Vouchers monthly. Users can apply the vouchers toward crypto purchases or trading fees.
Card offers up to 4% rewards during promotion
Shanghai Commercial Bank’s card product page lists 2% rewards on eligible local spending and 4% on eligible overseas spending during the promotion. New customers may also receive up to HK$1,200 in HashKey HKD Cash Vouchers or HK$1,000 in spending credit, subject to the offer’s terms.
Cardholders earn one point for every HK$1 spent. On each monthly statement date, the program converts 250 points into HK$1 in HashKey HKD Cash Vouchers. Customers receive the vouchers in their HashKey accounts and can use them to buy any supported cryptocurrency or offset transaction fees.
Shanghai Commercial Bank issues and manages the card
Shanghai Commercial Bank issues the card and handles all banking and credit services. HashKey’s credit card disclosure says the exchange does not provide credit or banking services. The bank also decides whether to approve each application.
Applicants must hold a HashKey account, live in Hong Kong and be at least 18 years old. The application starts in the HashKey mobile app before redirecting users to Shanghai Commercial Bank’s app. The card also lights up during contactless payments.
HashKey targets practical digital asset use
HashKey Exchange Business Group CEO Haiyang Ru said the partnership seeks to expand regulated digital asset use beyond trading. He said the company wants to move “beyond speculative trading” by linking digital assets with broader financial services.
Visa Hong Kong and Macau general manager Paulina Leong said the companies aim to connect digital asset services with familiar payment methods. Visa supplies the payment network, while the bank and HashKey manage the card, rewards and customer accounts under their separate regulated roles.
The product follows an October 2025 announcement that Shanghai Commercial Bank and HashKey planned to develop a co-branded Visa card. The July launch moves that plan into a product open for applications by eligible exchange members.
Launch joins Asia’s growing crypto rewards card market
HashKey was among the first exchanges licensed to serve retail crypto customers in Hong Kong. As reported by crypto.news, the platform began licensed retail operations in August 2023 and supports direct bank transfers in Hong Kong dollars and U.S. dollars.
The card arrives as HashKey expands as a publicly listed digital asset company. In June, its board approved a share repurchase plan worth up to HK$100 million after its stock rose from recent lows.
Elsewhere, other Asian finance groups have also linked card spending with digital asset rewards. As previously reported, SBI and Visa introduced a Japanese credit card program tied to Bitcoin, Ether and XRP rewards in May.
The HashKey program uses a different structure. Customers receive HKD-denominated vouchers and choose whether to use them for crypto purchases. That model keeps the credit card, reward conversion and exchange transaction as separate steps, rather than paying cryptocurrency directly at checkout.
