Crypto.com has announced a strategic partnership with Mastercard, enabling the cryptocurrency platform to issue payment cards directly in the Gulf Cooperation Council (GCC) region, starting with Bahrain.
Crypto.com Partners With Mastercard to Expand Digital Payments in GCC Region
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Crypto.com Secures Principal Licence to Issue Mastercard-Powered Cards
The collaboration revealed on Dec. 4, grants Crypto.com a principal licence to issue cards on Mastercard’s payment network. This move, according to the firm’s announcement, allows the company to introduce a payment card in Bahrain, offering cardholders access to over 150 million global merchants accepting Mastercard. Customers can fund their cards using e-money wallets or third-party credit and debit cards via the Crypto.com app.
The program will support all five card tiers offered by Crypto.com, including the Black Obsidian tier. These cards will be denominated in U.S. dollars and provide rewards of up to 8% on spending. The initiative aims to enhance the integration of digital assets into real-world transactions, highlighting the use of crypto assets for everyday payments.
Karl Mohan, general manager for Asia Pacific and the Middle East and Africa at Crypto.com, said the partnership with Mastercard leverages their Bahrain-issued Payment Service Provider license. Mohan noted that this step showcases Crypto.com’s focus on compliance and security while expanding its market footprint.
“Mastercard has shown its support for the digital assets industry by creating a robust card programme service that’s specifically tailored for our customers, allowing us to expand our product offering into new markets whilst proving our continued commitment to the highest levels of security and compliance,” Mohan remarked on Wednesday.
Mastercard’s executive vice president for market development in Eastern Europe, the Middle East, and Africa, Amnah Ajmal, further emphasized the scalability and security of Mastercard’s network. Ajmal stated that the program provides Crypto.com with tools for fraud prevention and transaction security alongside access to Mastercard’s global network.
The announcement states that the partnership with Mastercard builds on Crypto.com’s efforts to expand its prepaid card offerings worldwide. By integrating with Mastercard’s infrastructure, Crypto.com seeks to enable seamless cryptocurrency transactions, broadening access to digital payments in the GCC region.
The launch in Bahrain serves as a pilot before further expansion across the region, marking a significant development in crypto-powered payment solutions.
