As cryptocurrencies are slowly but surely becoming more and more talked about and, what’s more important, more used, it’s no wonder that accessing one’s digital assets is also becoming simpler. Currently, the whole crypto operations sector isn’t the most intuitive one, and newcomers to the sphere can get easily scared away by the complex process of creating a wallet, acquiring the desired crypto, starting trading and using crypto for purchases.
However, with new popularity come new technologies. Previously know as Monaco, the company in a joint endeavor with Visa will be issuing Visa & crypto credit and debit cards in the U.S. Such cards have already become somewhat of a success in Singapore. A happy Reddit user commented the Singapore issuing with a hopeful message:
And this movement towards a more mainstream crypto payment method is not at all surprising. Visa CEO, Al Kelly, has commented on the crypto situation by saying: "If it goes in that direction, we will move in that direction." The Company is keen on being part of any and every financial transaction.
The MCO prepaid Visa card will be free of annual, ATM withdrawal and foreign transaction fees. The card will be linked to a crypto.com wallet and app, where any crypto operations can be managed. However, any transaction made with the card will occur only with fiat currency. It's reported that at first, the card will support five cryptocurrencies, including bitcoin (Bitcoin), ethereum (ETH/USD), and ripple (XRP/USD).
These are the first steps towards a brighter crypto future, where mass adoption of digital currencies could have us using crypto bankcards which allow us to pay with this or that cryptocurrency. However, this is still a great breakthrough, even five years ago something like this was unthinkable and now one of the worlds leading financial service companies is pairing with a crypto firm to be part of this prosperous sphere.
The Reddit crypto community are more or less agreed on the fact that this move will benefit the later adoption of cryptocurrencies.
This news, and the fact that U.S. approval was met, signals that indeed we are moving towards a more popularized crypto world. While it is tempting to say that digital assets will overthrow traditional financial systems, there isn’t enough evidence for this, however, we are sure to a see the two becoming more and more intertwined with each other, and the MCO Visa card is living proof of this.
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