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Crypto.com has secured a principal network license from Mastercard, allowing it to issue cards directly on the latter’s network.
The collaboration will support the introduction of a new crypto-linked card programme, starting in Bahrain with plans to expand across the Gulf Cooperation Council (GCC) region.
The programme will leverage Crypto.com’s recently acquired Payment Service Provider license from the Central Bank of Bahrain.
The card will be denominated in USD and can be used at over 150 million locations worldwide where Mastercard is accepted.
Users will be able to fund their cards through the Crypto.com app using e-money wallets or traditional credit and debit cards.
The card will be available across Crypto.com’s five existing tiers, including the Black Obsidian, and will offer rewards of up to 8% on spending.
The initiative is part of Crypto.com’s efforts to expand its global card programme and offer users more ways to utilize digital assets for everyday transactions.
Mastercard’s global payment network will also provide additional security and fraud protection measures for the program.
Karl Mohan
“We’re really proud to be partnering with Mastercard, a global technology leader in the payments industry, and utilising our recently issued Payment Service Provider licence from the Central Bank of Bahrain to launch our world-renowned prepaid card to our users in Bahrain and beyond.
Mastercard has shown its support for the digital assets industry by creating a robust card programme 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.”
said Karl Mohan, General Manager APAC & MEA of Crypto.com.
Amnah Ajmal
“We are delighted to welcome Crypto.com as a Mastercard Principal Member. The programme 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.
