Crypto.com partners with Visa! Crypto.com partners with Visa including participation in Visa’s network in Australia! The company also plans on rolling out fiat lending against Bitcoin and other cryptocurrencies via the Crypto.com Visa Card!
Launched in Singapore in late 2018, the Crypto.com pre-paid Visa Card was one of the first cards tied to Bitcoin on the market. It is also the largest Visa program of its kind, with 31 markets covered in Europe, including the UK, Canada, and the United States. Users can quickly convert their crypto into one of the supported fiat currencies, including the USD, British Pound, and others. They can then use their card and withdraw cash anywhere Visa is accepted.
With Visa principal membership, Crypto.com will begin direct issuance of the Crypto.com Visa Card in Australia and scale the program to other countries and markets from there. The company is currently processing cards in Japan, Korea, Latin America, the Middle East, and Turkey. The card program also features a robust cash back program on purchases with no upper limits, up to 8% cash back, a full rebate on Spotify, Netflix, and Amazon Prime.
Crypto.com also announced the creation of “Spending Power”, a product allowing cardholders to loan and spend fiat against their crypto holdings. The interest rate is set at 9.9%.
Founded in 2016, crypto.com currently has approximately 10 million users, double the number it had four months ago. The startup has not raised an institutional round yet, but the company is considering an IPO in 2023.
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