CompoSecure partners with Crypto.com to bring cryptocurrency to mainstream
By Pavithra R
CompoSecure, a leading provider of premium financial payment cards and emergent provider of cryptocurrency storage and security solutions, has announced in partnership with Thales Group, it is manufacturing the first-of-its-kind card from Visa and Crypto.com, a fastest-growing crypto app.
Crypto.com’s Visa Card is a prepaid card that allows users to load their crypto funds and convert them to fiat currency for purchases. It runs on the Visa processing network and saves cryptocurrency enthusiasts from the struggle of accessing funds in real-time by allowing instant access to it to make immediate purchases in a real-world setting.
“As the world begins to open up after the pandemic, the Crypto.com Visa Card expects to continue to expand globally, given the increased spending behavior due to the pandemic. Crypto continues to push into the mainstream and is opening the doors for what is already the most widely available card of its kind on the market,” said Kris Marszalek, Co-founder and CEO of Crypto.com.
The card comes in various tiered rewards with Obsidian as the highest tier, followed by tier two with a choice of Frosted Rose Gold or Icy White. Tier three comes with a choice of Royal Indigo or Jade Green, and the final tier of metal cards is the Ruby Steel.
“The use of cryptocurrency as payments is changing, and we are changing with it by supporting a variety of technologies to offer the most flexibility to our customers. Our metal cards provide the best of both worlds – offering a premium experience at the physical point of sale, while also ensuring a strong back-end digital technology to support whatever payment option is needed,” said Jon Wilk, President and CEO of CompoSecure, which recently announced it had signed a merger agreement with Roman DBDR Tech Acquisition, a special purpose acquisition company.
The Crypto.com Visa Card was first introduced in Singapore in 2018. It touts to be the largest Visa card program of its kind and is currently available in the U.S., Canada, 31 countries in Europe and the APAC region.
IBSi Daily News Analysis
November 29, 2023
How Financial Cybersecurity landscape will evolve in 2024 with banking Trojans and direct payment attacksRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage