Crypto.com Shares Plans to Launch a Mastercard Card in Bahrain

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Mastercard yesterday announced that it had granted a license to Crypto.com to offer their pre-paid payment card services on the Mastercard network in the GCC region. This will begin with Bahrain in January 2025.

According to Mastercard’s blog post, cardholders will be able to fund their accounts through the Crypto.com app using e-money wallets or third-party credit and debit cards. The card will be available in all five tiers offered by Crypto.com, including their highest tier “Black Obsidian” with rewards of up to 8% and payouts in US dollars.

The crypto community responded positively to the news on social media, although there was some confusion about whether this partnership with Mastercard would affect Crypto.com’s current offerings with Visa.

Some reports suggested that the Mastercard-backed cards would only be available in the GCC region where Visa-backed cards are not currently offered, while other markets served by Visa would remain unaffected.