KEY TAKEAWAYS
- Crypto.com secures a principal license with Mastercard, enabling direct card issuance on Mastercard’s network.
- The partnership allows Crypto.com to launch a card in Bahrain, expanding its reach using Mastercard’s global network.
- Users can fund their cards through the Crypto.com app, with rewards up to 8% on spending across all card tiers.
- This collaboration enhances real-world crypto payment options, emphasizing security and compliance.
Crypto.com has announced a significant milestone by securing a principal licence with Mastercard, enabling the company to directly issue cards on Mastercard’s network. This development was announced here on December 4, 2024.
The new partnership will see Crypto.com launch a card in Bahrain, leveraging Mastercard’s trusted and scalable payments network. This initiative will allow Crypto.com customers to use their cards at over 150 million in-store and online locations worldwide.
Users will have the convenience of funding their cards through the Crypto.com app using e-money wallets or third-party-issued credit and debit cards. The card will be available across all five Crypto.com card tiers, including the Black Obsidian tier, offering rewards up to 8% on spending and denominated in USD.
Mastercard Partnership Expands Crypto.com’s Reach
Karl Mohan, General Manager APAC & MEA of Crypto.com, expressed the company’s pride in partnering with Mastercard, a leader in the payments industry. He highlighted the use of their recently issued Payment Service Provider licence from the Central Bank of Bahrain to launch the prepaid card in Bahrain and beyond.
Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard, welcomed Crypto.com as a Mastercard Principal Member. She noted that the programme provides benefits beyond direct issuance, including access to Mastercard’s global network and innovative payment solutions.
Enhancing Real-World Crypto Payment Options
This partnership marks a progression in Crypto.com’s card programme globally, aiming to provide users with more freedom and choice in spending their crypto assets in real-world payment scenarios. The collaboration underscores both companies’ commitment to security and compliance in the digital payments industry.
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