Crypto.com has become the latest company to join the Visa network in another strategic move that brings mainstream financial services and blockchain-operated assets closer together.
On Wednesday, Crypto.com confirmed that it had inked a partnership with the payment processing company and would operate as one of the principal members of Visa's Australian network.
Crypto's Visa card is already popular in 30 countries and enjoys a good level of use in places such as Europe, Canada and the US, and the Asia-Pacific. Crypto cards aren't new, as Binance is already issuing Visa cards to European customers.
Now, Crypto.com wants to begin issuance in Australia. Visa is happy to start issuing virtual cards in Europe as well, giving yet another medium for European customers to make use of the card.
Commenting on the partnership and this new opportunity for Crypto.com, chief executive Kris Marszalek said: “Signing the global partnership with Visa and becoming a principal member with the world’s leader in digital payments affirms our commitment to accelerate the world’s transition to cryptocurrency.”
Visa is just one of the companies to consider stepping more firmly into the crypto space. In fact, both Visa and MasterCard are responding to fears that they are losing customers to cryptocurrencies already.
Visa has some experience in navigating the crypto waters and the company connected its card payment system to USDC in December. If you are keen to use cryptocurrencies already, you can do so recreationally.