Empowering Crypto Transactions Across the GCC
Crypto.com has partnered with Mastercard to expand its digital payment solutions across the Gulf Cooperation Council (GCC) region. The collaboration enables Crypto.com cardholders to make purchases at over 150 million locations globally, both in-store and online, providing seamless integration of crypto assets into everyday transactions.
Mastercard Principal Licence: Unlocking Direct Card Issuance
Crypto.com has secured a principal licence from Mastercard, allowing it to directly issue cards on the Mastercard network. This milestone marks a significant step in Crypto.com’s efforts to enhance accessibility and flexibility for its users.
The company plans to launch its Mastercard-powered card in Bahrain initially, with gradual expansion throughout the GCC region.
Key Features of the Crypto.com Card
The Crypto.com card offers the following benefits:
- Usable at over 150 million global locations.
- Funding options include e-money wallets and credit/debit cards via the Crypto.com app.
- Availability across all five card tiers, including the premium Black Obsidian tier, offering up to 8% rewards on spending.
- Denominated in USD for added convenience in international transactions.
Statements from Key Stakeholders
Karl Mohan, General Manager of APAC & MEA at Crypto.com, highlighted the significance of the partnership:
“We’re proud to collaborate with Mastercard, leveraging our Payment Service Provider licence from the Central Bank of Bahrain to bring our renowned prepaid card to Bahrain and the wider GCC region.”
Amnah Ajmal, EVP of Market Development at Mastercard EEMEA, added:
“Crypto.com’s Principal Membership provides access to Mastercard’s global network, advanced payment solutions, and enhanced security tools, enabling seamless and secure transactions wherever Mastercard is accepted.”
Enhancing Crypto Adoption: Merchant Solutions Integration
In addition to its partnership with Mastercard, Crypto.com recently joined forces with payment solutions provider Ingenico. The collaboration introduced a ‘plug-and-play’ system designed to make crypto payments more accessible for merchants, further driving the adoption of digital currencies in everyday commerce.
A Step Forward in Crypto Payments
This alliance underscores Crypto.com’s mission to provide users with freedom and choice in utilizing their crypto assets. By partnering with Mastercard, the company is poised to revolutionize digital payments across the GCC, offering innovative, secure, and accessible solutions for crypto enthusiasts.
