The MCO Visa Card, a prepaid card that provides a range of facilities to its users starting from free ATM withdrawals to competitive interbank rates has begun shipping to customers in Singapore from Monday, October 22. The cards don’t come with any monthly or annual fee. Following the news, MCO received a boost in price as it spiked up by 33% but currently stands up 17.3% for the day.
Shipping Begins to Singapore
The prepaid card range provides high-end metal cards to customers along with several perks. They work similar to most credit cards, offering airport lounge access on some cards, tap-and-pay functions, free ATM withdrawals, and more reasonable interbank rates. The card can be received via a wallet app that creates reservations for the users after a three-minute customer onboarding process. Once received, the wallet allows users to manage their cards, see their transactions and even freeze or unfreeze their cards with a simple tap.
Customers in Singapore will be the first to receive these cards in the world. The connected wallet will allow users to buy, sell, send and store cryptocurrencies while tracking their usage. Users will also be able to spend fiat currency converted directly from cryptocurrencies without involving any exchange fee.
Crypto.Com CEO Applauds the Community
Co-founder and CEO of crypto.com, Kris Marszalek acknowledged all stakeholders in the project saying:
“We are thankful for the support of all our partners and our community. During this process, our team has grown tremendously and worked incredibly hard to achieve this milestone. This is an important step towards our mission of accelerating the world’s transition to cryptocurrency.”
The card comes with several offers for users. For instance, it provides 2 percent cash back on purchases made via the card. It also has a peer referral program called Platinum Referral Reward Program which provides an up to $10,000 sign-on bonus for each cardholder. The Crypto Wallet Cashback offer provides up to 1 percent cash back on crypto transactions, like exchange and purchase of digital coins in the MCO wallet.
Known earlier as Monaco, the company recently rebranded to Crypto.com to highlight its growing business model and its expanding reach into the overall crypto markets.