Crypto.com has announced a significant milestone, securing a principal license to issue cards on Mastercard’s payment network. This collaboration revealed on December 4, allows Crypto.com to launch a payment card in Bahrain, giving cardholders access to over 150 million global merchants that accept Mastercard.
Key Features of the Program
- Card Funding: Customers can fund their cards using e-money wallets or third-party credit and debit cards via the Crypto.com app.
- Card Tiers: The program supports all five Crypto.com card tiers, including the premium Black Obsidian tier.
- Rewards: Cardholders can earn rewards of up to 8% on spending.
- Denomination: Cards will be denominated in U.S. dollars, offering flexibility for global transactions.
Integration of Digital Assets
This initiative underscores Crypto.com’s mission to integrate digital assets into everyday life, enabling seamless cryptocurrency transactions for real-world use. By collaborating with Mastercard, Crypto.com aims to enhance the accessibility and utility of crypto assets for daily payments.
Statements from Leaders
Karl Mohan, general manager for Asia Pacific, the Middle East, and Africa at Crypto.com, highlighted the collaboration’s importance in leveraging their Bahrain-issued Payment Service Provider license. Mohan emphasized that this step demonstrates Crypto.com’s commitment to compliance, security, and market expansion.
Mastercard’s Amnah Ajmal, executive vice president for market development in Eastern Europe, the Middle East, and Africa, praised the scalability and security of Mastercard’s network. Ajmal noted that the partnership provides Crypto.com with advanced tools for fraud prevention and transaction security, ensuring safe and reliable customer experiences.
Expanding Global Access
The partnership builds on Crypto.com’s efforts to expand its prepaid card offerings globally, focusing on the GCC region. By integrating with Mastercard’s infrastructure, Crypto.com seeks to enable secure and efficient cryptocurrency transactions, broadening the reach of digital payments and fostering greater adoption of digital assets.
This collaboration marks a significant advancement for Crypto.com, reinforcing its position as a digital asset integration and cryptocurrency-based payments leader. 🚀
