The Crown Prince and Prime Minister of Bahrain, His Royal Highness Prince Salman bin Hamad Al Khalifa, is the first to receive Crypto.com’s MasterCard card. The exchange has said the card can be used in over 150 million in-store and online locations worldwide.
The Crypto.com card powered by MasterCard allows users to fund their cards through the Crypto.com application using e-money wallets or third-party-issued credit and debit cards. The payment product will be available across all five Crypto.com card tiers, including Black Obsidian. The card will be denominated in USD and offers rewards of up to 8% on spending.
Kingdom of Bahrain received Crypto.com’s COO
The President and Chief Operating Officer of Crypto.com, Eric Anziani, was at Gudaibiya Palace when he presented His Royal Highness with the company’s new Mastercard prototype, one that is regarded as the first of its kind in the Middle East.
During the meeting, HRH Prince Salman bin Hamad emphasized the Kingdom’s commitment to advancing the financial services and digital technology sectors, both of which are priorities that contribute to supporting the Kingdom’s comprehensive development under the leadership of His Majesty King Hamad bin Isa Al Khalifa.
He also reaffirmed the Kingdom of Bahrain’s commitment to attracting international companies across promising sectors, strengthening its regional and international position, and expanding growth across various industries.
The Minister of Finance and National Economy, HE Shaikh Salman bin Khalifa Al Khalifa, and the Governor of Central Bank of Bahrain (CBB), HE Khalid Ebrahim Humaidan, also attended the meeting.
Crypto.com secured licenses and partnerships to operate in the Kingdom
In September 2024, Crypto.com received a payment service provider (PSP) license from the Central Bank of Bahrain through its subsidiary registered in the Kingdom under the commercial name “FORIS GFS BH B.S.C. CLOSED”.
The PSP license allowed Crypto.com to expand its offerings of e-money and fiat-based payment services regionally, including the launch of its prepaid cards.
Earlier this month Crypto.com partnered with Mastercard to directly issue cards on Mastercard’s network. It is a principal license that allows Crypto.com to launch a card in Bahrain powered by Mastercard.
The new program leverages Mastercard’s trusted, scalable and secure payments network to enable the crypto exchange’s customers to use their card at over 150 million in-store and online locations worldwide. The payment product will be available across all five Crypto.com card tiers.
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