Crypto.com secures Australian licence to issue crypto Visa cards

Crypto.com, the Hong Kong-based payments platform, said it has obtained an Australian Financial Services Licence to issue cryptocurrency-backed Visa cards.

This was made possible by the acquisition of The Card Group Pty Ltd.

🇦🇺 https://t.co/vCNztABJoG completed the acquisition of The Card Group Pty Ltd, securing an Australian Financial Service License.

💳 Preparations are underway to issue https://t.co/vCNztABJoG Visa Cards in Australia in 2021

Details: https://t.co/cYcyczo6Ix pic.twitter.com/z6bWdasrot

— Crypto.com (@cryptocom) December 2, 2020

Terms of the deal for acquiring The Card Group Pty Ltd were not disclosed.

Crypto.com chief executive Chris Marshalek noted that cooperating with regulators is foundational to the company’s future success and its ability to offer new services worldwide.

Earlier in November, Crypto.com received approval from the Malta Financial Services Authority (MFSA) for a financial-institution licence and a third-class VFA licence, which will allow it to operate legally in that country.

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