According to an official press release, Crypto.com has become an associate program member in the financial hub of Singapore. The company will be able to deploy self-issuance of the Crypto.com Visa card, according to this strategic partnership.
The Crypto.com Visa card is the largest product in its category, worldwide. Moreover, the card is accepted by more than 80 million merchants. Basically, it will be accepted by any merchant that accepts Visa.
Customers can do regular business while also earning a range of advantages for card members and CRO (Cronos) rewards across different card tier levels. Customers in Singapore should anticipate the introduction of more exciting payment options and digital services in the future.
Kris Marszalek, CEO of Crypto.com, stated,
“Providing customers more ways to engage with cryptos as a mode of payment for goods and services is core to our mission at Crypto.com We are excited to deepen our global partnership with Visa to further enhance our offerings.”
The partnership further adds weight to crypto assets becoming more and more mainstream. An industry that is only a little over a decade old, is already making headway into the financial systems of the world.
The firm recently received approval for a “Major Payment Institution license for e-money issuance, account issuance, cross border and domestic money transfer services under Foris Asia Pte. Ltd.”
Moreover, the firm received a separate in-principle approval for a Major Payment Institution license for Digital Payment Token services under Foris DAX Asia Pte. Ltd. from the Monetary Authority of Singapore.
Apart from Singapore, the firm has received approval as a Digital Asset Service Provider (DASP) from the Autorité des marchés financiers (AMF) in France. It has completed its registration for crypto-asset business from the UK Financial Conduct Authority (FCA). The company has secured provisional approval for its Virtual Asset License from the Dubai Virtual Assets Regulatory Authority.
Lastly, it has acquired Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea. The firm also has licenses in the US, Canada, the Cayman Islands, Australia, and Cyprus.