Crypto.com receives Mastercard license and launches crypto cards in GCC Bahrain

Crypto.com has secured a Principal Network License from: master cardit will be possible to issue cards directly on the latter network.

The partnership will support the introduction of a new cryptocurrency-linked card program starting in Bahrain with plans to expand across the Gulf Cooperation Council (GCC) region.

This program utilizes Crypto.com’s recent services. obtained Payment service provider license from the Central Bank of Bahrain.

The card is denominated in US dollars and can be used at more than 150 million locations around the world where Mastercard is accepted.

Users will be able to deposit funds to the card through: Crypto.com Apps that use electronic money wallets or traditional credit and debit cards.

The card will be available at Crypto.com’s five existing tiers, including Black Obsidian, and will offer rewards of up to 8% on spend.

This initiative is part of Crypto.com’s efforts to expand its global card program and provide users with more ways to utilize digital assets in everyday transactions.

Mastercard’s global payment network also provides additional security and fraud protection to the program.

“We are partnering with Mastercard, a global technology leader in the payments industry, and leveraging the recently issued payment service provider license from the Central Bank of Bahrain to bring our world-renowned prepaid cards to users in Bahrain and Bahraini. We are truly proud to offer Beyond.

Mastercard shows its support for the digital asset industry by creating robust card program services tailored specifically for its customers, demonstrating our continued commitment to the highest levels of security and compliance, while enables us to expand our product offering to new markets. ”

Karl Mohan, General Manager, APAC & MEA, Crypto.com said:

“We are pleased to welcome Crypto.com as a Mastercard Principal Member. This program offers a wide range of benefits and opportunities beyond direct Mastercard issuance.

Crypto.com now has access to our global network, allowing you to transact anywhere Mastercard is accepted, innovative payment solutions powered by cutting-edge technology, transaction security and fraud prevention. Comprehensive tools will be available to enhance your experience. ”

said Amna Ajmal, Executive Vice President, EEMEA Market Development, Mastercard.

Featured image credit: Edited from freepic