Crypto.com is a digital currency exchange platform headquartered in Hong Kong. Just a few days after the announcement of launching a non-fungible token platform, the company declared its newest collaboration with Visa Inc.
Back in November 2018, the Crypto.com Visa Card was issued in Singapore. With time, it started to be available in the US, Canada, Europe, and the countries in Asia-Pacific. With this feature, users can trade digital currencies in the U.S. dollar, Canadian dollar, British pound, euro, Hong Kong dollar, and Singapore dollar. They can also make credit or debit transactions and ATM withdrawals.
The latest collaboration will authorize the direct issuance of a Crypto.com Visa card in Australia.
The platform is also exploring the possibility of extending this service in other countries as well. Several benefits come from this partnership, like reducing costs, faster transactions, and of course the international accessibility.
The issuing of Visa Cards goes together with the initiation of “Spending Power”, a digital currency lending feature created for the Crypto.com cardholders. This allows users to utilize the cryptocurrency in their digital wallets as collateral for a loan. Then, they can spend fiat currency anywhere Visa is supported.
“Signing the global partnership with Visa and becoming a principal member with the world’s leader in digital payments affirms our commitment to accelerate the world’s transition to cryptocurrency,” co-founder and CEO of Crypto.com Kris Marszalek said.
“I’m also excited to deepen our relationship with our customers via direct-issuance of cards around the world and roll-out Spending Power, allowing them to access the value of their crypto today.”