This development will allow Crypto.com to launch its prepaid card program in Bahrain, leveraging Mastercard's infrastructure. The new initiative will provide Crypto.com customers access to Mastercard's global payments network, accepted at over 150 million in-store and online locations. Users will be able to fund their cards through the Crypto.com app using e-money wallets or third-party-issued credit and debit cards.
The cards will be offered across all five tiers of Crypto.com's programme, including the premium Black Obsidian tier, which offers rewards of up to 8% on spending. All transactions will be denominated in USD.
Officials from Crypto.com noted that the partnership with Mastercard aligns with the company's efforts to expand its services in compliance with regional regulations. They highlighted the use of the Payment Service Provider licence recently issued by the Central Bank of Bahrain, stating that the collaboration with Mastercard underscores a commitment to security and compliance while providing innovative solutions for users in Bahrain and other markets.
Mastercard officials expressed support for the partnership and emphasised that Crypto.com's principal membership offers more than just direct card issuance, providing access to Mastercard’s global network, advanced payment technologies, and security tools aimed at mitigating fraud and ensuring secure transactions.
The launch in Bahrain is part of Crypto.com's strategy to expand its card program globally, enabling users to integrate crypto assets into real-world spending.
Founded in 2016, Crypto.com serves over 100 million customers worldwide. The company focuses on regulatory compliance, security, and privacy as part of its goal to promote cryptocurrency adoption.
Mastercard operates in more than 200 countries and territories, offering secure and innovative digital payment solutions. The company partners with businesses and governments to create sustainable economic opportunities globally.
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