Crypto.com and Mastercard Collaborate to Scale the Digital Payments Industry in GCC Region
Manama, Bahrain, December 4th, 2024, Chainwire
Crypto.com has secured a principal licence with Mastercard, enabling the company to directly issue cards on Mastercard’s network. As an initial milestone, Crypto.com will launch a card in Bahrain powered by Mastercard.
The new programme will leverage Mastercard’s trusted, scalable and secure payments network to enable Crypto.com customers to use their card at over 150 million in-store and online locations worldwide. Users can easily fund their cards through the Crypto.com app using e-money wallets or third party-issued credit and debit cards. The innovative payment product will be available across all five Crypto.com card tiers, including Black Obsidian, offering rewards up to 8% on spending and will be denominated in USD.
“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,” said Karl Mohan, General Manager APAC & MEA of Crypto.com. “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.”
“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.
The partnership cements the progression of Crypto.com’s popular card programme globally, as the company seeks to give its users more freedom and choice on how to spend their crypto assets in real-world payment scenarios.
While the Prepaid Card will be issued from Bahrain, it will also be available to Crypto.com customers in other eligible locations.
About Crypto.com
Founded in 2016, Crypto.com is trusted by more than 100 million customers worldwide and is the industry leader in regulatory compliance, security and privacy. Our vision is simple: Cryptocurrency in Every Wallet™. Crypto.com is committed to accelerating the adoption of cryptocurrency through innovation.
Learn more at https://crypto.com.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
