On Friday, Crypto.com stated that it had started shipping its crypto-to fiat card, dubbed the MCO Visa across the European Union’s various countries. A total of 31 countries within Europe, including the 27 member states of the EU. According to the blog post, these countries will now have access to a card that allows its users to pay in crypto. The company, based in Hong Kong, had received initial approval for the program by the relevant European markets back in October of last year.
Expanding Into European Soil
In opposition stands one of the largest crypto exchanges in the world: Coinbase. The company’s own card had been made available to 29 nations across Europe, as per the statement of its FAQs.
Previously, MCO Visa cards were only available within Asia and the US. On another note, however, Crypto.com made it clear on Thursday that its US cardholders will be capable of integrating their MCO Visa cards with Google Play and Apple.
A Few Bold Claims
In the blog post announcing it, Crypto.com claimed that thousands of clients had already reserved their place for its EU expansion. In the blog post, Crypto.com contended that it had a user base of more than two million alongside this massive demand for its MCO Visa card in Europe.
Kris Marszalek, the CEO of Crypto.com, gave a comment about the matter as a whole, as well. According to Marszalek, expanding into Europe holds a potential market for Crypto.com worth half a million in new users. Marszake explained that this all stands as part of his company’s plan “take over the world,” somewhat jokingly.
As to the exact number of people that joined this new expansion, remains unclear, however. The problem only gets further complicated once you realize that a company spokesperson had declined to share the numbers of MCO Visa Card sign-ins, as well. This leaves room for some suspicion. Since no hard numbers can be given, it allows for the public to imagine numbers that could very well be inflated from what it actually represents.
Global Shift To Crypto
The launch itself comes a few days after Crypto.com had announced that it had secured $360 million in total crypto insurance policies for its Bitcoin wallets.
This also comes shortly after Visa had managed to secure a patent on Thursday. This patent envisions a system where a central bank system can convert physical fiat funds into a digital equivalent. This will pave the way for the payments giant creating its own system of crypto-backed payment and finance.