Crypto.com has partnered with the Visa network, which includes becoming a principal member of the latter in Australia, according to Cointelegraph. The company will use its presence in Australia to pursue greater market penetration for its card service across the world.
With the new partnership, Crypto.com becomes the latest cryptocurrency exchange and payment service to join the Visa network.
The collaboration with Visa is in line with the company’s efforts to expand the reach of its crypto Visa card.
Apart from its physical Visa card product, Crypto.com will begin to issue virtual cards within Europe.
The company also announced the rollout of its fiat lending program, dubbed “Spending Power.”
Crypto.com Visa cardholders will be able to use the cryptocurrency balance in their wallet as loan collateral and spend fiat in merchant platforms that support Visa payments.
Crypto.com’s Visa card is already used in more than 30 countries, including the US, Canada, as well as nations in Europe and across the Asia-Pacific.