Crypto.com Secures Mastercard License for Direct Card Issuance
Crypto.com has achieved a significant milestone by obtaining a principal license from Mastercard. This license allows the company to directly issue cards on Mastercard’s global network. The first card, launching in Bahrain, will pave the way for expansion across the GCC region, offering users seamless access to spend their crypto assets.
Unveiling the Crypto.com Mastercard in Bahrain
The new card will enable Crypto.com customers to make purchases at over 150 million locations worldwide, both online and in-store. Powered by Mastercard, the card can be funded through the Crypto.com app using e-money wallets or third-party credit and debit cards. This innovation bridges the gap between traditional finance and cryptocurrency for everyday transactions.
Rewards Across All Five Crypto.com Card Tiers
Crypto.com’s card will be available in five tiers, including the premium Black Obsidian tier, which offers up to 8% rewards on spending. With USD denomination, the card ensures accessibility and flexibility for users, catering to a wide range of financial needs and preferences.
Strategic Collaboration with Mastercard
Karl Mohan, Crypto.com’s APAC & MEA General Manager, expressed pride in partnering with Mastercard, a leader in the payment industry. This partnership leverages Crypto.com’s Payment Service Provider license from Bahrain’s Central Bank to deliver its renowned prepaid card services to Bahrain and beyond.
Mastercard’s Role in Expanding Crypto Payment Solutions
Amnah Ajmal, Mastercard’s EEMEA Market Development Executive Vice President, emphasized the benefits of the partnership. Crypto.com gains access to Mastercard’s global network, cutting-edge payment technology, and advanced fraud protection tools, enhancing security and transaction efficiency.
Promoting Freedom in Crypto Transactions
Crypto.com aims to empower users by offering freedom and choice in how they utilize their crypto assets for everyday purchases. The collaboration with Mastercard reflects this mission, enabling a seamless, secure, and global payment experience for crypto enthusiasts.
Innovations Driving Crypto Accessibility
Beyond card issuance, Crypto.com recently partnered with Ingenico to make crypto payments more accessible for merchants. Their ‘plug-and-play’ solution simplifies crypto adoption, signaling the company’s commitment to expanding the usability of digital assets in the global economy.