New No-Fee Visa Card for US Crypto Holders Offers Rebates From Big Brands
The blingy new metal MCO Visa Card is now shipping to US customers.
Launched by payments and cryptocurrency platform Crypto.com in partnership with New York-based Metropolitan Commercial Bank, the prepaid Visa card allows users to spend their crypto wherever merchants accept Visa. The US card settles all transactions in US dollars.
The no-annual-or-monthly-fee card is designed to push mainstream adoption of Bitcoin, Ethereum and other popular cryptocurrencies, supporting merchants who want to offer crypto as a payment method by settling all transactions in US dollars.
For customers, there are rebate perks. By staking MCO tokens, card holders can earn subscription rebates for big entertainment brands such as Netflix and Spotify, unlimited airport lounge access and 5% back on all spending.
They can also track charges as well as buy, sell, store and send cryptocurrencies by using the Crypto.com app.
Here is a little 📽️we made for 🇺🇸launch… pic.twitter.com/skybSUIR6M
— Crypto.com (@cryptocom) July 17, 2019
The card joins a list of options offered by crypto companies that are moving to support crypto payments for purchases online and at brick-and-mortar locations. The BitPay Prepaid Visa Card, for example, also allows users to turn digital assets into dollars.
Spanish fintech startup 2gether recently launched its prepaid Visa card for the European crypto community, allowing holders to spend crypto anywhere Visa is accepted through instant conversion to euro.
The 2gether collaborative platform continues to grow in Europe with more founders joining us every day. 📈
We can not wait to welcome you! Sign up in 5 minutes ⌛️ and take control of your finances 💳 #better2gether
— 2gether (@2gether_global) July 16, 2019
Spend.com allows its users to spend crypto at Visa’s 40 million global merchant locations.
From Los Angeles to London, a breakfast bagel to a down payment on a new car; if they accept Visa® then they accept Spend. Instantly convert over 16 different cryptocurrencies into local fiat currency and Spend it on whatever life brings you, anywhere and anytime! pic.twitter.com/Dlk7g53zIM
— Spend.com (@SpendCard) July 10, 2019
In addition to the new MCO Visa Card, Crypto.com offers a suite of products including Crypto Earn and Crypto Credit to replace traditional bank accounts and allow customers to earn up to 8% on their crypto holdings. CEO Kris Marszalek says the company is upgrading its withdrawal and deposit infrastructure after having maxed out its current AWS setup due to a huge influx of users.