New Dawn: Asia is getting its first Visa Crypto card
Things in the financial market are about to become very interesting in Asia as the continent prepares to welcome its first cryptographic Visa Card, a development serious who is bound
Like the fact, players in the cryptography industry have worked around the clock to find easy ways to bridge the apparent gap between the cryptic world and the general financial market, and what better way to do it than to make it easier for people to convert their encrypted to fiat? In fact, the new development is bringing something much more to the market than just a means of converting the digital currency. With the new cryptographic Visa cards, custodial crypts will be able to access loans in legal currencies using their digital properties as collateral.
Crypto.com, a Hong Kong-based company formally known as Monaco, is the successful company that has applied for a license to prepare 100,000 Visa crypto cards. The cards will be launched within the next two months and Singapore will be the starting point followed by the rest of the Asian continent. As mentioned, in addition to using Visa Cryptocurrency cards, the company involved also requested a license to expand its business to include an encrypted money loan service.
Speaking of the topic, Kris Marzalek, CEO of Crypto.com, had some reassuring words for encrypted users, saying that cards will bring peace to users as they can easily liquidate their digital assets in fiat currency when they want . In addition, cryptographic visa cards eliminate the tedious and sometimes difficult withdrawal processes currently faced by cryptographic holders in platforms and trading exchanges. To add to this, Kris also noted that not all exchanges actually support cryptocurrency conversions. The new crypto visa cards will solve the problem once and for all
Access to cryptographic loans
A very notable fact about these cryptographic visa cards concerns the privilege of users to access the loans using their crypts as a guarantee. A cryptographic credit card user will be able to access loans with up to 60% of their digital assets. There will be no background checks conducted and no credit score or credit history check considered – much the opposite of what centralized banks do.
The cryptographic visa card will host the major cryptocurrencies including BTC, ETH, BNB, MCO, and LTC. There will be 7 fiat currencies involved, with the USD, the Hong Kong Dollar and the Singapore Dollar taking the lead. This development contributes to the large-scale adoption campaign for crypts and bitcoins.