Crypto.com, formally known as Monaco in partnership with a German bank that already has the appropriate licenses, including the store-value facility license will issue the cards in Singapore. Set to launch within the next two months, it will initiate from Singapore and will be spread across the Asian continent. Crypto.com also plans to apply for the licenses in appropriate markets.
Kris Marzalek, the CEO of Crypto.com. spoke about the subject and assured crypto users that the will lend them easy access to liquidate their digital assets into fiat currency whenever they want. Additionally, it will also eliminate the tedious and sometimes tricky withdrawal processes currently faced by crypto holders at trading platforms and exchanges.
Among the happy news, the most notable one is that crypto visa card holders could access loans using their crypto holds as collateral. Eliminating the hassle of background checks, credit scores or credit history the user will be able to access loans of up to 60% value of their digital assets.
The leading cryptocurrencies such as BTC, ETH, BNB, MCO, and LTC will be accommodated in The crypto visa card along with 7 fiat currencies involved, with the USD, Hong Kong Dollar, and Singapore Dollar. This development will majorly promote crypto and Bitcoin adoption across the continent.
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