Crypto.com and its debit card on approval in Hong Kong

Yesterday the startup Crypto.com has requested the issuance of Visa debit cards backed by cryptocurrencies in Hong Kong; They plan is to distribute 10,000 cards all over the world, starting with Singapore.

This card will be linked to wallets for both fiduciary money and cryptocurrencies, this will allow users to spend their cryptocurrencies after converting them into fiduciary money.

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The company is compatible with five cryptocurrencies: Bitcoin, Litecoin, Ethereum, MCO and Binance Coin, and in turn can be converted into seven fiction currencies including the Singapore dollar, the US dollar and the Hong Kong dollar.

Among the new projects by Crypto.com is to make loans backed by cryptocurrencies, users will be able to borrow up to a credit limit and without a fixed timetable for repayment, such as a loan in installments.