Crypto.com Launches Visa Crypto Card for Brazilian Users

Crypto.com Launches Visa Crypto Card for Brazilian Users

Brazilian cardholders won't be charged with annual or monthly fees nor ATM withdrawal fees.

On Thursday, Crypto.com, a major digital asset exchange with a global presence, announced that it 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.

Since today, Brazilians can apply for the card via 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 wouldnt 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 its 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 more than three years of experience with Visa as its Country Manager for South Korea and Mongolia.

Before that, he spent more than 12 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 Stanleys investment banking division in the initial days.