Adaption: Visa crypto card supports Bitcoin, Ethereum, XRP, Binance Coin, and MCO
Although the prices of all crypto currencies currently show a downward trend, the technology behind the digital currencies continues to develop. In addition, there are more and more companies that promote the adaptation of crypto currencies. The MCO Visa card supports the above-mentioned currencies and offers some advantages over other competitive models.
The company behind the Crypto.com website, known as Monaco, has received confirmation after a long wait to trade its credit and debit cards in the United States. The users of the cards can deposit and withdraw money anywhere where Visa cards are accepted (freely translated):
Today, Metropolitan Commercial Bank and Crypto.com (through its subsidiary Foris Inc.) announced that the companies are preparing to launch the MCO Visa Card program in the US after it was launched in Singapore in October.
With the Wallet app, customers can manage their card usage and transactions and freeze or cancel their card at the touch of a button.
The MCO Visa card is topped up in advance with an amount of “X”, after which, according to the company, there are no monthly or annual usage or withdrawal charges. There are also no costs for withdrawals from ATMs or transfers abroad. The card will initially support five digital currencies: Bitcoin, Ethereum, XRP, Binance Coin and MCO.
The loading of the crypto card with credit should be very easy: Users send e.g. Bitcoin to a wallet address of the prepaid visa card. Once Bitcoin has arrived, it will be converted into the local currency, the US dollar, in the states. Once this is done, the card can be used anywhere Visa cards can be used, including ATMs, retail stores and restaurants. This process works quickly and easily so that users can pay with their card within minutes.
This business idea is not new and already known from the Wirex Visa card. This method of payment combines the traditional financial system with the new possibilities of the cryptographic universe and helps to promote the adaptation of crypto currencies worldwide. Crypto.com states that there are already more than 100,000 reservations for the new “crypto card”.
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