Investing

Crypto.com Can Now Issue its Visa Card in Singapore

Crypto.com announced Tuesday it is now a Visa Associate Program Member in Singapore. The move will allow the crypto exchange to self-issue a Crypto.com Visa card, enabling users to use it for everyday purchases and earn rewards in CRO coins.

Consumers Can Use Crypto.com Visa Cards For Everyday Commerce and Obtain CRO Rewards

Crypto.com announced in a press release Tuesday that through a partnership with Visa, the firm will be able to issue its Visa cards in the city-state. The Crypto.com Visa Card is the biggest payment card in the world that also offers crypto features. The card can be used at any location where normal Visa cards are used, which amounts to over 80 million locations.

In other words, users will be able to use their Crypto.com Visa Card for everyday purchases, while being eligible to earn membership benefits and rewards in the exchange’s native coin, CRO. After the company begins self-issuing Visa Cards, customers in Singapore “can expect further exciting payment features and digital services to be introduced over time,” said Crypto.com.

“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.”

– Kris Marszalek, CEO of Crypto.com

The announcement marks an expansion of Crypto.com Visa Cards into Singapore as the company already offers Visa Cards in the US, and Canada, as well as multiple countries across Europe and the Asia Pacific. More information about Visa Card applications can be found here.

Crypto.com’s Expansion Despite Market Slump

The launch of Visa Cards in Singapore represents Crypto.com’s latest expansionary effort, which remains one of the fastest-growing crypto exchanges in the world.

In September, the company announced it has obtained approval to provide services in France. Before that, Crypto.com also obtained licenses in the UK, Italy, and South Korea.

Meanwhile, Singapore remains one of the most crypto-friendly jurisdictions on the globe, even though the city-state tightened crypto regulations following the LUNA implosion in May 2022, which tipped numerous firms to liquidation. Last week, Singapore’s central bank proposed further crypto restrictions, including a ban on debt-financed and leveraged crypto trading.

This article originally appeared on The Tokenist

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.