Crypto.com gains principal network license, plans new cryptolinked card program
-
Crypto.com will initially launch the card in Bahrain and gradually expand across the GCC region.
Bahrain, December 4, 2024: Crypto.com has secured a principal license with Mastercard, enabling the company to directly issue cards on Mastercard’s network. Crypto.com will launch a card in Bahrain powered by Mastercard.
The new program will leverage Mastercard’s trusted, scalable, and secure payments network to enable Crypto.com customers to use their card at over 150 million in-store and online locations worldwide. Users can easily fund their cards through the Crypto.com app using e-money wallets or third-party-issued credit and debit cards. The innovative payment product will be available across all five Crypto.com card tiers, including Black Obsidian, offering rewards up to 8% on spending and will be denominated in USD.
“We’re really proud to be partnering with Mastercard, a global technology leader in the payments industry, and utilizing our recently issued Payment Service Provider license from the Central Bank of Bahrain to launch our world-renowned prepaid card to our users in Bahrain and beyond,” said Karl Mohan, General Manager APAC & MEA of Crypto.com. “Mastercard has shown its support for the digital assets industry by creating a robust card program service that’s specifically tailored for our customers, allowing us to expand our product offering into new markets whilst proving our continued commitment to the highest levels of security and compliance.”
“We are delighted to welcome Crypto.com as a Mastercard Principal Member. The program provides a wide range of benefits and opportunities beyond the direct issuance of Mastercards. Crypto.com will now have access to our global network, enabling transactions wherever Mastercard is accepted, our innovative payment solutions powered by cutting-edge technology, and our comprehensive tools for enhancing transaction security and fraud protection,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.
The partnership cements the progression of Crypto.com’s popular card program globally, as the company seeks to give its users more freedom and choice on how to spend their crypto assets in real-world payment scenarios.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter
About us:
The Mainstream formerly known as CIO News is the premier platform dedicated to delivering the latest news, updates, and insights from the CIO industry. As a trusted source in the technology and IT sector, we provide a comprehensive resource for executives and professionals seeking to stay informed and ahead of the curve. With a focus on cutting-edge developments and trends, The Mainstream formerly known as CIO News serves as your go-to destination for staying abreast of the rapidly evolving landscape of technology and IT. Founded in June 2020, The Mainstream formerly known as CIO News has rapidly evolved with ambitious growth plans to expand globally, targeting markets in the Middle East & Africa, ASEAN, USA, and the UK
