Crypto.com announced a global partnership with VISA last March 18 and became a principal member of its network in Australia. Co-founder and CEO of Crypto.com Kris Marszalek mentioned that this partnership is key to accelerating the world’s adoption of cryptocurrencies.
‘Having been a VISA partner for several years, we’re excited to deepen that relationship with a slew of world-firsts. 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,’ Marszalek said in a press release.
Recently, Crypto.com secured the approval of the Australian Foreign Investment Review Board to allow digital transactions in the country. They were able to do this through an acquisition of an Australian card-issuing firm called The Card Group Pty Ltd.
As of writing, Crypto.com’s VISA card is used in more than 30 countries around the world, including the United States, Canada, as well as nations in Europe and across the Asia-Pacific. Additionally, the higher officials of Crypto.com intend to pursue greater market penetration for its card service across the world, starting with Australia.
Crypto.com also announced the creation of ‘Spending Power,’ a custom-built lending product for their VISA Card. Through this, users can use their cryptocurrencies as collateral for a loan and instantly spend the borrowed fiat anywhere VISA cards are accepted.
In regards to the VISA partnership, Marszalek remarked:
‘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.’
Head of Crypto at VISA Cuy Sheffield also said that the company’s partnership with Crypto.com will enable people worldwide to know more about the benefits of digital currencies.
‘Digital currencies have the potential to extend the value of digital payments to a greater number of people and places, and we’re eager to work with companies bringing this vision to life,’ Sheffield stated in a press release.
‘Through our partnership with Crypto.com, one of the largest VISA card programs connected to a crypto exchange available today, we are making it quicker and easier for people to spend digital currency worldwide.’
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