VISA Card has now officially Joined Hands with Crypto.com

Bitcoin is not the only commodity that has been getting the attention of high stake investors. Other cryptocurrencies and relevant crypto trading platforms have also latched onto the race to the moon. Earlier this year, VISA officiated plans to get started on its crypto-friendly transition. This announcement was influenced by the massive outbreak and upsurge of flagship cryptocurrency Bitcoin. As a result, Crypto.com, a crypto exchange platform, has come forward as the official principal member of VISA.

In its press release, Crypto.com confirmed the rumors that it has entered into a contract with the world’s leading credit/debit card payment giant VISA. As of yesterday, Crypto.com would be working as a principal member of the VISA network in Australia. According to analysts, this limitation on the territory is tactically introduced by VISA to test the market affinity beforehand. It should be noted that VISA card has a huge market demand and clientele in markets like USA, Europe, Canada, and the major Asia Pacific economies. 

Crypto.com Metal Visa Cards to Hit the Markets in 2021

Crypto.com has already listed metal VISA cards on its official website. It is also working on a project to launch virtual credit cards in Europe. According to the Executives at Crypto.com, the company would use its momentum and success in Australian markets as leverage to become the most popular crypto alternatives for credit transactions globally. Chris Marszalek, the CEO of Crypto.com, is certain that their new product has monumental potential and would be able to entice a revolutionary cryptocurrency transition on a global scale.

VISA has integrated the crypto exchange platform with its Australian venture to provide users with the ability to use cryptocurrencies as loan collateral. Crypto.com has also launched a venture arm by the name of “Spending power” with an investment of $200 million to realize its goals. The venture aims to encourage the flux of crypto-based businesses and startups. According to Marszalek, this new venture has already cured an estimated 10 million user base. 

Other Big names to Follow Suit after VISA Crypto Ventures

VISA is not the only big name that has gone on board with crypto-mania. Following the suit, Mastercard has also announced that it has started to consider certain cryptocurrencies for extending support in Feb this year. The Mastercard executives have expressed an interest in providing their customers the option of sending, storing, and saving money in new ways. Mastercard wants to enable its one billion existing clientele to have the option of crypto trading. 

According to the press release, Mastercard masterminds have plans to endorse stablecoins based on their reliability and security. To comply with its new vision for 2021, MasterCard has started to campaign with central banks around the world to formulate and issue solid cryptocurrency regulations under their jurisdiction. The money exchange giant has already partnered with Wirex and Bitpay to create MasterCard crypto cards. Other big names in the industry like RBC Capital have not only joined the crypto bandwagon, but they also suggest Apple Inc. hop on board as soon as possible. 

 

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