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On November 16th, the Hong Kong startup blockchain Crypto.com announced that it is planning to issue its prepaid card, MCO Visa Card, in the United States. The company states that the card was approved for launch in cooperation with its local bank Metropolitan Commercial Bank. Its metal cards promise up to two percent of tokens with the native MCO token, access to the airport (selected cards), tap-and-pay functionality and competitive interbank rates.
Convert crypto to fiat with just a few taps
According to Crypto.com, users of the MCO Visa Card can easily convert their encryption to fiat using their mobile wallet to be spent in over 40 million locations worldwide, online and offline. However, the company emphasizes that users must exchange Crypto in fiat currency first through the Crypto.com Wallet before making transactions.
The company started shipping papers to Singapore users in October, and claims that it currently has reservations for over 100,000 cards.
The start blockchain states that the cards arrive without annual or monthly fees and free ATM withdrawals.
The official announcement of the company quotes Mark DeFazio, President and CEO of Metropolitan Commercial Bank, who said he was delighted to work closely with Crypto.com, as "the Visa MCO card is quite unique and offers a bridge between traditional banks and cryptocurrencies in a safe and compliant manner. "
Card reservations are made via the Crypto.com Card & Wallet app available for iOS and Android users.
More than one card
Crypto.com believes that their product range will be useful for both newcomers and experienced users. In addition to the MCO Visa Card, the company has created products aimed at making cryptocurrency more accessible to a wider group of customers.
Crypto.com Wallet is designed to purchase, sell, send, store and securely monitor a variety of cryptocurrencies including Bitcoin, Ether, XRP, Litecoin, Binance Coin and its MCO Token. Crypto Invest is a tool to help democratize quantum trading. Crypto Credit, which has not yet been released, will allow customers to "spend crypt without selling".
Crypto.com ensures that their app is easier to use than other platforms. For example, the purchase of cryptocurrency requires only a few taps compared to the complex process of other portfolios, the company says. With the Crypto.com Coin Track feature, users can track coins, compare exchange rates and prices and order coins by capitalization, performance and volume.
The co-founder and CEO of Crypto.com, Kris Marszalek, said: "Our vision is to put the cryptocurrency in each portfolio, and the imminent launch of the cards in the United States is a huge step in this direction. Our products are beautifully designed to connect the fiat and crypto worlds and foster mass market adoption.
Project information
The company was founded in July 2016. Crypto.com was formerly known as Monaco until its rebranding on Crypto.com in July 2018. The founders had raised $ 26.7 million during their token sale in June 2017. Crypto. com is based in Hong Kong.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim to provide you with all the important information we could get, readers should do their own research before taking any action related to the company and bring full responsibility for their decisions, nor can this article be considered as an investment advice .
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