Leading payments and cryptocurrency platform, Crypto.com, announced today that it has started shipping its MCO Visa debit cards to 31 countries in Europe, including 27 EU member states.
According to the official announcement by the Hong Kong-based cryptocurrency platform, the move would make it become the largest crypto debit card provider with a market share in Asia, Europe, and the United States.
The company noted that the initiative to launch crypto-focused debit cards was first conceived in 2018 when its MCO Visa cards were rolled out in Singapore. However, today’s news would see Crypto.com MCO Visa card become the most widely available cryptocurrency debit card in the world.
Crypto.com MCO Visa Card is issued by Wirecard Card Solutions Ltd (“WDCS”) following a license obtained from Visa.
Speaking about the development, Kris Marszalek, Co-Founder and CEO of Crypto.com, said: “Since we first shipped our MCO Visa card in 2018, we have been rapidly moving into new markets and growing our user base.”
Marszalek further explained that when the MCO Visa cards are integrated with its mobile app, users will be able to manage all their crypto financial transactions, as well as buy, sell, and earn cryptocurrencies.
Conquering the global crypto space
Crypto.com stated that it had made significant efforts to boost its performance in Europe, including hiring Mariana Gospodinova as general manager of the region and ensuring the firm adhered to the region’s regulatory policies.
In addition, the firm recently announced an additional $100 million insurance policy, bringing its total crypto-insurance cover to $360 million, thus providing an extra layer of security for users’ funds.
Almost a year ago, the firm rolled out its MCO Visa card to the United States. The cards which support both crypto and fiat top-ups come as a high-end metal card with no annual or monthly fees. At the time, the firm stated that users could get up to 5% cryptocurrency cashback on everyday transactions.
However, as part of its effort to provide relief to users amid the coronavirus (COVID-19) pandemic, Crypto.com increased the cash backs for essential items purchase to 10% for the metal cards tier and 5% for the plastic card tier.