Crypto.com, the payment and crypto-currency platform, announced a broad European launch of its Visa MCO cards. The cards will soon be sent to 31 countries in the region, according to an article on the company’s blog, published on May 15.
The company’s European presence now covers all 27 EU member states, as well as Switzerland, the United Kingdom, Iceland and Norway. The company claims to have „the most available crypto-currency card in the world“ as a result of this expansion. Prior to this, it had already been offering services in Asia and the United States.
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When asked how difficult it was to get the green light from regulators across the region, Crypto.com CEO Kris Marszalek told Cointelegraph that issuing and distributing cards in Europe „is possible with a single EU license, as long as you’ve gone through all the relevant jurisdictions. He explained:
„Each EU Member State must incorporate AMLD5 into local legislation, which is reflected in slight differences in approach and interpretation, but the overall aim of the Directive is well respected by all countries“.
All Crypto.com European cards are issued by the German financial services provider Wirecard, Marszalek continued:
„The classic model for were previously charged – a similar drama – first introduced last year – $30 million ico – startup lightning labs – three big topics – facebook was building with libra – 10th anniversary of satoshi’s white paper – has still testified before congress – increased economic uncertainty is to launch in partnership with renowned financial institutions, build a user base and infrastructure (equipment, technology, licenses) and then go for vertical integration. We are following the same playbook.
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The CEO of Crypto.com added that they are actively working in several new markets, and that the company’s ultimate goal is to have their card available worldwide.
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The crypto debit card race has intensified since the beginning of 2020. Earlier this year, Coinbase became the first company to be licensed as a Visa Principal Member. This means that it can now issue its own cards without intermediaries.
The new Metal Pay blockchain enables the integration of payment platforms and banks. In May, Visa’s crypto-currency card platform, Swipe, announced a partnership with Samsung Pay, allowing cardholders to manage crypto-currencies through Samsung’s smartphones and smart watches.