On May 15, it has been reported by the company’s blog post that the company’s European presence now covers all 27 EU member states, as well as Switzerland, the UK, Iceland, and Norway.
However, the firm claims to have “the most widely available crypto card in the world” as a result of this expansion. Prior to this, it had already been offering services in Asia and the US.
https://t.co/ZzXTzGr2vp’s Visa cards are now offered in all EU countries as the company is “actively working” on new markets https://t.co/oAr7iNCWzl — Cointelegraph (@Cointelegraph) May 15, 2020
Kris Marszalek, the CEO of Crypto.com, said that card issuing and distribution in Europe “is possible under a single EU license, as long as it has been passported across all relevant jurisdictions”.
“Each EU member state must transpose AMLD5 in local legislation which reflects in slight differences of approach and interpretation, but the overall purpose of the Directive is well adhered to by all countries.”
Also, Marszalek added:
“The classic startup model is to launch in partnership with reputable financial institutions, build a user base and infrastructure (team, technology, licenses) and subsequently go for vertical integration. We’re following the same playbook.”
He added that they are actively working on a number of new markets, and the company’s ultimate goal is to have its card available globally.
Thus, the crypto debit card race has been intensifying since the start of 2020.