Crypto.com presents Bahrain’s Crown Prince and Prime Minister with new crypto Mastercard prototype

Crypto.com presents Bahrain’s Crown Prince and Prime Minister with new crypto Mastercard prototype

Bahrain’s Crown Prince and Prime Minister, His Royal Highness Prince Salman bin Hamad Al Khalifa, has met with the President and Chief Operating Officer of Crypto.com, Eric Anziani, at Gudaibiya Palace where he presented His Royal Highness with the company’s new Mastercard prototype and is regarded as the first of its kind in the Middle East.

Crypto.com which recently secured a crypto payment service provider license in Bahrain 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 will leverage Mastercard’s trusted, scalable and secure payments network to enable the crypto exchange customers to use their card at over 150 million in-store and online locations worldwide. Users can easily fund their cards through the Crypto.com app using e-money wallets or third party-issued credit and debit cards.

The innovative payment product will be available across all five Crypto.com card tiers, including Black Obsidian, offering rewards up to 8% on spending and will be denominated in USD.

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.

HRH the Crown Prince and Prime Minister highlighted the significance of digital transformation in driving progress across key economic sectors to realise the Kingdom’s aspirations. 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.

Crypto.com President, Anziani concluded by expressing his gratitude for the opportunity to meet His Royal Highness and extended his wishes for the Kingdom of Bahrain’s continued progress and prosperity.

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 launches its global retail service from Dubai UAE

Crypto.com launches its global retail service from Dubai UAE

Crypto.com, the global crypto exchange, has announced that it will be launching its global retail services across 90 countries out of Dubai UAE. The crypto exchange has partnered with Standard Chartered Bank to allow the deposit and withdrawal of crypto and fiat easily.

As per their X post, “This is the first seamless USD, EUR and AED deposit and withdrawal in over 90 countries. We’re excited to announce the launch of global retail services to our millions of users worldwide, powered by Standard Chartered Bank from our Dubai hub.”

The company claims that this move will improve the efficiency and utility of users’ cryptocurrency transactions.

The global retail services will be managed from Crypto.com’s regional hub in Dubai. Standard Chartered will support the expansion. The regulatory framework established by Dubai’s Virtual Assets Regulatory Authority is intended to provide a secure environment for the growth of digital assets.

“Working with Standard Chartered to launch our global retail services is a huge milestone for us,” said Eric Anziani, President and COO of Crypto.com.

“Not only is it a significant step forward in our global expansion plans, but also enables our commitment to delivering a world-class customer experience whilst maintaining the highest levels of security and compliance,”

The service will first be available next month to customers in the UAE. Users in the region will be able to access Crypto.com’s products and services through the app. This includes the ability to trade over 250 cryptocurrencies. Crypto.com plans to expand the service to other countries in the future.

The company aims to offer the same services and financial infrastructure for deposits and withdrawals to a global audience.

Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan for Standard Chartered, added: “This collaboration closely aligns with the UAE’s National Agenda which emphasizes innovation, economic diversification, and the growth of a knowledge-based economy.”

“By providing cutting edge solutions that meet the evolving needs of customers across the UAE and beyond, we are contributing to the UAE’s vision of becoming a regional and international hub for digital assets,” she added.

In April of 2024, Crypto.com received its full license from Dubai’s virtual asset regulator VARA.