Crypto.com Launches Visa Crypto Card for Brazilian Users

On Thursday, Crypto.com, a major digital asset Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term with a global presence, announced that it has started to issue Visa crypto cards for its Brazilian users. According to the post published on its website, the Visa Card offers up to 8% on spending and rebates on subscriptions in some streaming platforms like Spotify, Netflix and Amazon Prime.

From today, Brazilians can apply for the card via the Crypto.com App as they should pass through an approval process. Prior to the arrival of a physical card, approved cardholders can use a virtual card given by the crypto exchange. Moreover, the company clarified that there would not be annual, monthly or ATM withdrawal fees for Brazilians that use the crypto Visa card.

The crypto exchange is known for being the issuer of one of the most widely used crypto-linked card offerings across the sphere, which is one of the major products of their business line. The card is issued by Foris GFS BR LTDA pursuant to a license from Visa Worldwide Pte Limited.

Appointment of Former Visa Country Manager

In September, Crypto.com announced the appointment of Patrick Yoon as the new General Manager for South Korea. In fact, he was previously a country manager at Visa. Yoon is set to engage with industry leaders and policymakers for a better understanding of the crypto industry. In addition, Yoon is well-versed with the South Korean regulatory environment around financial services, given his experience of more than three years with Visa as its Country Manager for South Korea and Mongolia.

Before that, he spent more than twelve long years at Standard Chartered Bank. After that, he climbed the corporate ladders to part as the Managing Director and South Korean Country Head for Retail Banking. He started his career in 1996 and spent a couple of years at Morgan Stanley’s investment banking division in the initial days.