Cryptocurrency Visa card launches in US

Hong Kong company Crypto.com, formerly known as Monaco, has announced plans to release a new VISA card to the American market. The Visa Crypto Card, which is planned to be launched and allows you to pay with cryptocurrency on the VISA network, is currently only available to residents of Singapore.

Following a successful Singapore launch last month, Metropolitan Commercial Bank is preparing to introduce the MAP Visa Card program to the US. This close collaboration and promotion of an innovative product to the American market was made possible after receiving US regulatory approval.

Crypto.com's Visa debit cards offer no monthly or annual fees, no ATM withdrawal fees, and no foreign transaction fees.

Upon release, the card will support five cryptocurrencies: Bitcoin, Ethereum, XRP and Binance Coin, but the company plans to expand the list of convertible cryptocurrencies over time. 

United States residents who want to be the first to receive the cards can pre-order using the Crypto.com wallet and card app. The process takes three minutes and includes ID verification. The Wallet app also allows users to fully manage transactions, as well as freeze and unfreeze their cards.

All Visa Crypto Card transactions are denominated in local fiat currency and the cryptocurrency loaded onto the card will first be converted before users can transact on the Visa network as normal.

Market demand for the Visa card is impressive, with over 100,000 pre-orders already according to the company users from all over the world.

Crypto.com expects that their new Visa Card will join the ever-growing ecosystem of cryptocurrency debit cards, the scope of which is growing every day.