Digital asset exchange and payment provider Crypto.com is launching its crypto-linked Visa card in Brazil, joining an ever-growing market of fintech services accessible to over 200 million Portuguese speakers.
Crypto.com is entering a crowded field for consumer blockchain products in Latin America where mainstays such as Coinbase, Binance and Revolut have amassed sizeable user numbers here.
The Hong Kong-based firm said the card will connect the exchange’s user base with everyday spending needs. It allows holders to pay for goods and services with crypto coins, providing a fiat gateway into the asset class.
Additionally, Crypto.com’s card offers access to cashback offers, airport lounge access, and subscription rebates for Spotify, Netflix, and Amazon Prime. It also promises to unveil a raft of new initiatives to boost engagement with its card that works like a regular payment or debit card issued by the bank.
Crypto.com lets clients top up their card with funds through its native app and then convert their crypto holdings to fiat within seconds, which can be spent at over 50 million Visa merchants worldwide.
Specially issued crypto cards are becoming the norm that is quite popular since they allow users to cash out their digital assets and spend them at thousands of credit card-accepting merchants worldwide. These cards resolve one of the greatest drawbacks of cryptocurrencies, which is the inability to use them in everyday life with the same ease as traditional currencies.
Crypto.com was founded in 2016 and its offering stands out as a one-stop shop for all crypto investors’ needs. It promises features such as deep liquidity and competitive trading fees, plus institution-grade security.
In one of its biggest brand marketing campaigns to date, Crypto.com partnered last month with Matt Damon to formally introduce the platform to consumers around the world.
The Hollywood movie star will be the hero of a global brand and advertisement campaign – entitled “Fortune Favours the Brave” – that will air in over 20 countries.
Elsewhere, Crypto.com has had a very busy summer, signing deals with top-tier sport teams worldwide. Earlier in September, they inked a multi-year sponsorship deal with Paris Saint-Germain (PSG), which boasts world class players including Lionel Messi, Kylian Mbappé and Neymar.
The exchange and payment provider has also bagged deals with the Ultimate Fighting Championship (UFC), Formula 1 racing, Italy’s Lega Serie A, and the IIHF Hockey World Championship, among many others.
