Crypto.com launches its Visa Card in Canada
Cryptocurrency exchange and app Crypto.com announced that it will start shipping its Visa card to Canada. The news is bringing excitement for crypto traders in Canada, as they can now apply for the company’s Visa card from as early as next month. According to the announcement, the Visa cards are expected to be shipped by January next year.
The development is evidence that the crypto payments company is gradually expanding its operational base. The company has already introduced payment card facilities in Europe, the USA, and Singapore.
Canada embraces cryptocurrency
In line with its expansion goal, the crypto company appointed Filomena Ruffa, former Visa executive, to take charge of its operations in South America.
While announcing the decision to offer Visa cards in Canada, Crypto.com stated that the country’s wide acceptance of cryptocurrency was the main motivating factor to extend its operations there. The favorable cryptocurrency environment has also opened doors for crypto companies, including mining pools, staking networks, and exchanges.
Kris Marszalek, Crypto.com’s founder and Chief Executive Officer, commented on the development. He said the company was buoyed by the fact that Canada is an innovative and tech-savvy country.
“Canada is a tech-savvy, innovative country that has always been warm to cryptocurrencies,” he stated.
Kris further noted that the new Visa Cards will offer the country’s residence one of the most rewarding debit cards in the market. In line with Crypto.com’s goal of bringing the card to all regions of the world, the company has pledged to launch more cards in other counties to facilitate crypto-based transactions and payments.
Kris said the launch of the Visa card has been in development for several months. In May this year, Crypto.com posted on its blog indicating that the company’s next stop for Visa card was Canada.
As one of the biggest crypto payment card solutions in the world, Crypto.com is poised to get its cards widely adopted all over the world, as its recent achievements have suggested.
Crypto.com functions as both a credit card and an app. The card transactions are still based on fiat currencies. But with the app, users can receive, send, buy, or sell crypto assets. They can also use DeFi apps, take out credit, or earn interest using the app. Presently, there are about 5 million global users of the app.
Using the card doesn’t attract foreign charges
Crypto.com is registered in Hong Kong. In October 2018, it rolled out its Visa cards in Singapore. A year later, it entered the U.S. market. Not Europe is its latest destination, as there are plans to launch its Visa cards in selected countries in the continent.
One of the main features of the card is the fact that using the card doesn’t attract foreign transaction charges.
Based on the official announcement of the card launch, there is no monthly or annual fee charged by using the card, unlike other types of similar cards. There are no charges accrued when users withdraw money from ATMs using the card.
