Crypto.com (Previously Monaco) has announced today that they will be launching their VISA powered MCO Cards in the United States and the U.S. card launch in partnership with Metropolitan Commercial Bank has been set to July 14, 2019.
They have also announced that they will be unveiling a new look for the cards (starting in the US) and adding Frosted Rose Gold to the range at the 5000 MCO tier. The new design is minimalistic and quite fashionable.
This announcement comes 5 days after they announced, Crypto Earn for American Customers with which, “Earn users will be able to enjoy up to 8% p.a. on their MCO deposits. This includes US residents in 37 eligible states.” But due to regulatory issues they had to “Conclude CRO airdrop to MCO Token Holders effective June 25th, 2019.”
About Crypto.com and The MCO Visa Card
The MCO Visa Card is a prepaid card that features high-end metal cards with no annual or monthly fees, up to 5% back on all spending, unlimited airport lounge access and subscription rebates for popular streaming services based on the number of MCO staked. The new design prominently features the Crypto.com brand icon, the Ethereum Lion.
Crypto.com App, is the backbone of the Crypto.com ecosystem and allows you to access various features they offer such as Crypto Loan, Crypto Earn and also allows users to securely buy, sell, store, send, and track cryptocurrencies.
The Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free.
About the Issuer Bank
The partner Bank Metropolitan Commercial Bank is headquartered in New York City and operates full-service banking centers in Manhattan; Boro Park, Brooklyn; and Great Neck, Long Island. They are a community-focused bank that provides a broad range of business, commercial and personal banking products and services to small businesses, middle-market enterprises, public entities and affluent individuals offering convenience delivery channels, including online banking, flexible mobile banking apps and no-fee access to over 1 million ATMs worldwide for their clients. The Bank is also an active issuer of prepaid debit cards for an increasing number of third-party prepaid debit card programs. Metropolitan Commercial Bank is a New York State-chartered bank and an FDIC member. The Bank currently holds assets over $2.5 Billion.
What Problems Does Crypto.com solve?
The crypto space has a lot of exchanges and ways to buy bitcoin and other cryptocurrencies, but no easy solution to buy, sell and use your coins, and moreover, the big question now is, besides trading, what do you do with these digital assets? This is where Crypto.Com comes in and provides the next step for people in the crypto space looking use their crypto for something besides trading and makes it easy for you to buy coffee with your bitcoin, powered by a Visa card. You can loan on your crypto assets if required or earn up to 8% interest on them if you lock them for a certain period. Of course, you can buy some crypto on the platform as well but I would recommend checking with your preferred exchange if you want to trade big quantities.
I have been a user of the MCO card in Singapore since December 2018 and it’s been very convenient to use and I have been getting very good exchange rates for local currency when I travel abroad.