In a press release earlier on Wednesday, May 27, 2020, global cryptocurrency exchange, Crypto.com, announced they will be adding their card support to over 30 countries in Europe. The exchange will partner with i2c Inc., a leading provider of digital payment and open banking technology, to facilitate the card payments across the continent. According to the release this makes the crypto exchange’s card, “the most widely available” card of its kind yet.
Crypto.com Expands Card Services to Europe
The exchange announced an extension of its card services to 31 European countries after successful implementations in Singapore and the United Kingdom, earlier in the year. The new card offers users a complete crypto ecosystem for users across the available countries able to buy, sell, trade, earn as well as receive cashback rewards from top subscriptions like Netflix and Spotify.
The world of crypto is fast spreading but the overall use of crypto in purchase daily products is yet to catch on. Crypto.com aims at providing a quick and instant way of paying for products using crypto through its VISA MCO card. The partnership between the exchange and i2c opens a gateway for Europeans to enjoy these services.
On the partnership, CEO of Crypto.com, Kris Marszalek, said,
“We selected i2c three years ago in anticipation of our global strategy because of the integration it has with banks and card networks worldwide. i2c’s cloud-based platform powers a customized, ‘plug-n-play’ solution so we didn’t have to start from scratch in each market integrating into multiple processors.”
Europe’s Reaction to Digital Currencies’ Payments
According to a recent study sponsored by the exchange across Europe, over 34% of consumers see online payments as the primary role for digital currencies with over half (54%) saying they would use a government-backed digital currency. Jim McCarthy, President of i2c Inc. believes the current pandemic and tough economic times will push even more people towards a digital payment lifestyle.
He further said,
“The strong enrollment response in Europe to the Crypto.com payments solution indicates consumers are ready for an alternative to traditional money systems that puts them squarely in control of their finances and investments. i2c is proud to be helping Crypto.com bring optional payment solutions to the world.”