- Crypto.com has begun shipping its MCO Visa cards to customers in Singapore.
- The cards enable users to spend their converted cryptocurrency instantly and are managed from their mobile app.
- A cryptocurrency card is to be launched soon.
Ccrypto.com is taking steps in putting a new product on the market as their highly anticipated MCO Visa cards begin shipping in Singapore today, Monday the 22nd of October 2018.
This announcement was made on the company’s Medium page and has led to great excitement among customers.
Important Step Towards the World’s Transition to Cryptocurrency
The cards will first be shipped to customers in Singapore before shipping globally. Crypto.com, which was formerly Monaco, has stated that it is dedicated to pushing the worldwide acceptance of cryptocurrency.
“We are thankful for the support of all our partners and our community. During this process, our team has grown tremendously and worked incredibly hard to achieve this milestone. This is an important step towards our mission of accelerating the world’s transition to cryptocurrency.” said Kris Marszalek, Co-Founder, and CEO of Crypto.com.
How the Card Will Work
The card will work as a bit of a link between fiat and cryptocurrency.
The customers will have to convert their crypto holdings to fiat currency via the wallet app and then they will be able to spend the fiat currency using the card. It, essentially, works like a prepaid card.
Crypto.com does, however, intend to roll out a card in the near future that will allow users to spend their cryptocurrency without first converting to fiat currency.
The card comes with a number of benefits such as airport lounge access for select cards, free ATM withdrawals, tap-and-pay functionality, and competitive inter-bank rates.
The card also carries no monthly or annual fees.
The card can be managed by customers using their wallet app. Through the app, they will be able to manage their card usage and transaction, order a new card and freeze their card at the touch of a button.
To order a card, customers must go through a three-minute onboarding process through the app, after which it will be shipped to them.
New Spending Habits
The normalization of cryptocurrency being spent as easily as fiat currency is essential for its widespread acceptance.