Crypto.com, the popular cryptocurrency payment platform announced yesterday that they will be releasing their MCO Visa Card in Canada. The move comes after Crypto.com received approval from regulators in the country.
MCO Visa cards operate like traditional prepaid debit or credit cards except that they can be topped up using crypto currency options such as Bitcoin, Litecoin, XRP, Ether, and the site’s own MCO token. The MCO Visa Card program previously launched in Singapore in 2018, the USA in 2019, and in 27 European countries last month.
Canadians will be able to sign up for the MCO Visa card through the Crypto.com App. The process takes approximately three minutes and requires users to verify their ID. The final rollout date in Canada is still pending at press time. Crypto.com’s MCO Visa Card is issued by DC Bank.
Crypto.com’s MCO Visa Card has no monthly or annual fee. The physical card is made of high-end metals and offers contactless pay for added convenience. Premium users can take advantage of no-fee ATM withdrawals and no surcharges on foreign transactions. Select card tiers offer additional perks like airport lounge access, cash back bonuses, and rebates on Airbnb, Expedia, Netflix, Spotify, and Amazon Prime.
The main benefit of cryptocurrency credit and debit cards including the MCO Visa Card is that they allow cardholders to spend their crypto online at brick-and-mortar retailers, including those that are oblivious to blockchain technologies. With Visa being accepted at most merchants worldwide, the MCO Visa Card lets anyone spend and manage their cryptocurrency with minimal effort.
Crypto.com has been around since 2016 and currently has more than a million users. Additional information about the MCO Visa card and the Hong Kong company’s complete suite of cryptocurrency tools can be found at Crypto.com.