New York-based Metropolitan Commercial Bank and Crypto.com (through its affiliate Foris Inc.), formerly Monaco, announced that the companies are preparing to roll out the MCO Visa Card program in the United States following its launch in Singapore in October.
The MCO Visa Card is a prepaid card that features no annual or monthly fees, airport lounge access for select cards, no-fee ATM withdrawals, tap-and-pay functionality, and no foreign transaction fees.
Reservations for the MCO Visa Card are made using the Crypto.com Wallet & Card App which includes a three-minute customer onboarding process including ID verification. Using the Wallet App, customers are able to manage their card usage, transactions, and freeze or unfreeze their card with a single tap. To date, over 100,000 MCO Visa Cards have been reserved globally.
The Wallet app also allows users to securely buy, sell, store, send, and track cryptocurrencies — allowing users to spend fiat currency converted from cryptocurrency without currency exchange fees.
“We are pleased to work closely with Crypto.com and Foris in bringing this innovative product to the US market. This program speaks directly to The Entrepreneurial Bank spirit that we have and seek to promote. The MCO Visa Card is quite unique and provides a bridge between traditional banking and cryptocurrencies in a safe and compliant way.”
“We are thankful for the support of Metropolitan Commercial Bank in sharing our vision. The market demand for the MCO Visa Card has been overwhelming and we look forward to bringing it to customers as soon as possible. This is another important step towards our mission of accelerating the world’s acceptance of cryptocurrency.”