- Crypto.com’s popular new Visa Card will be made available to users in Canada.
- The Visa Card has already seen success in Singapore, Europe and the United States.
- CEO of Crypto.com Kris Marszalek says Canada has shown enthusiasm for cryptocurrency.
Crypto.com’s popular new Visa Card will be made available to users in Canada.
Cryptocurrency exchange Crypto.com is set to allow its Canadian users to start ordering its recently launched Visa card.
The card will allow users to spend any cryptocurrency kept in their Crypto.com wallet in any shop in Canada for a small fee.
This will mean users will not have to convert their crypto-holdings into Canadian Dollars (CAD) and withdraw to a bank account in order to spend.
The announcement comes after Crypto.com’s Visa Card has found success in Singapore, Europe and the United States.
Justifying introducing its Visa Card to Canada, Crypto.com pointed towards Canada’s enthusiasm for cryptocurrencies overall, with the company’s chief executive officer Kris Marszalek saying the launch “represents the latest milestone in our march to bring the cards to every country”.
Crypto.com is one of the world’s leading exchanges, with over 5 million users. Its mobile application that functions as both a wallet and exchange.
The wallet is denominated in a number of fiat currencies including USD, GBP and EUR, and allows users to save and earn interest on their crypto-holdings.
Users are also granted access to a number of decentralised finance (DeFi) applications that can be installed via Crypto.com.
This year has seen a number of leading exchanges launch a Visa Card service, the most notable being Binance – the largest exchange in the world by some measures – with Binance Card.
Binance Card allows Binance users to spend their cryptocurrencies with over 60 million merchants worldwide with no fees whatsoever.
As cryptocurrency exchanges continue to grow in size, expect more and more “real-world” services to become available as exchanges seek to compete with each other for users.
