The Hong Kong based crypto and blockchain startup of Crypto.com announced that it was planning on expanding its prepaid VISA cards to the United States. The MCO Visa Cards are currently only available to residents of Singapore but this is about to change as the Metropolitan Commercial Bank will be rolling out the card service in the US.
The prepaid MCO Visa Cards are high-end metal cards with no annual or monthly fees. There is also no-fee for ATM withdrawals with select cards having airport lounge access. The cards also have tap-and-pay functionality and also no foreign transaction fees.
How to Reserve the MCO Visa Card
Residents of the United States who wish to get the cards can make reservations using the Crypto.com wallet and the Card App. The process is estimated to last three minutes and includes ID verification. The Wallet app also allows users to manager their card usage, transactions as well as freezing and unfreezing their cards.
All MCO Visa Card transactions are denominated in fiat currency. Therefore, all crypto to fiat conversions are done before users can transact on the Visa network.
Kris Marszalek, Co-Founder and CEO of Crypto.com, was grateful for the support of the Metropolitan Commercial Bank. He said:
We are thankful for the support of Metropolitan Commercial Bank in sharing our vision. The market demand for the MCO Visa Card has been overwhelming and we look forward to bringing it to customers as soon as possible. This is another important step towards our mission of accelerating the world’s acceptance of cryptocurrency.
Mark DeFazio, President and CEO of Metropolitan Commercial Bank, had similar sentiments about the collaboration:
We are pleased to work closely with Crypto.com and Foris in bringing this innovative product to the US market. This program speaks directly to The Entrepreneurial Bank spirit that we have and seek to promote. The MCO Visa Card is quite unique and provides a bridge between traditional banking and cryptocurrencies in a safe and compliant way.
About Metropolitan Commercial Bank
Founded in 1999 and based in New York City, Metropolitan Commercial Bank operates full banking services in Manhattan (New York), Boro Park (Brooklyn) and Great Neck (Long Island). The bank is community-focused and provides a broad range of services and products for businesses, middle-market enterprises, public entities and individuals.