Kris Marszalek, who is the CEO and co-founder of blockchain-powered startup firm Crypto.com, announced the launch of the MCO Visa card. The card will enable users to spend digital coins at more than 40 million places. At the same time, it would provide benefits that are unmatched among the best of credit cards in the world.
Wallet for Crypto and Fiat
While talking to CNN Money, Marszalek explained about the new card and narrated as to how he used it to buy coffee. This apart, he pointed out that, once the users download their app, they could use the MCOs wherever the Visa card is accepted. The app has a built-in wallet that works for both fiat and digital currencies.
Marszalek also talked about the mission of Crypto.com during the interview. He said that the aim is to speed up the international development, adoption, and transition towards virtual currencies.
He believes that the MCO Visa card could play a key role in helping to offer utility to digital currency holders. At the same time, it would offer a gateway if anyone has shown interest in virtual assets.
Type of Cards
The company announced two types of MCO Visa card. One is a standard one while the other is an exclusive one for digital currency concierge service known as MCO Private. Marszalek indicated that the second type of card is offered to high net worth clients within the crypto community.
The company will also provide access and specialized services in the field. Among the perks included is an exclusive access to digital currency associated events, dedicated customer service by phone along with guidance and advice from its platform. The official launch is scheduled during the latter part of the current year.
Cash Back Rewards
The cards would come in ice white and elite obsidian black colors. The ice white card is meant for those who purchase 5,000 MCO digital coins. Similarly, for those who purchase 50,000 MCO tokens, the elite obsidian black card will be issued.
Currently, MCO Visa card is in the final phase of testing. The card will be available in the United States, Europe, and Asia.
Talking about the rebranding of the company to Crypto.com by Hong Kong-based Monaco, Marszalek said:
“We will strive to deliver impact worthy of the name and build infrastructure that enables growth of the ecosystem, delivering on the promise of a decentralized future.”
Reports indicated that Monaco had acquired Crypto.com for about $10 million.