The forthcoming Crypto.com Visa cards for Canadian citizens are reportedly coming early next year and are considered another step in the country’s recent turn towards cryptocurrency adoption.
Visa Cards For Canadians As Early As January 2021
The digital assets exchange and app Crypto.com has officially announced that citizens of Canada are now able to apply for its Visa cards. Plans are for the shipment of new cards to begin in January next year. The country is the most recent addition to the list of locations where the crypto exchange card will be available. The latest release will follow the launches in Singapore in October 2018, in the United States in July 2019, and in Europe in April 2020.
As per the official publication, the upcoming Visa card won’t have annual or monthly fees. ATM withdrawals will also be deprived of fees and foreign transaction charges. The card will offer a rebate for digital channels like Netflix, Amazon Prime, and Spotify. It will allow selected card tiers an airport lounge access, and up to 8% back instantly in CRO rewards.
As per the announcement, the recent move of the crypto exchange in the inclusion of Canada is a logical step for the company, which is prompted by the country’s growing interest in cryptocurrency.
“Expanding its reach in Canada is a natural next step for Crypto.com, as the country is moving rapidly in its adoption of cryptocurrencies.”, reads the publication.
Canada’s Rush Towards Crypto And Digital Assets
Recently, the country happened to be a frequent partaker in crypto-related projects. As CryptoPotato reported, in September this year, the Royal Bank of Canada (RBC) announced its plans for launching a Bitcoin trading platform. In an official release, the financial institution said it is exploring a digital assets trading platform for in-store and online purchases and investments as well.
As per the announcement, the bank is also supposedly looking into allowing its customers to open bank accounts that contain digital currencies. If these plans become a reality, RBC would be the first bank in Canada to initiate a cryptocurrency exchange or to offer accounts containing digital currencies.
In another crypto-related turn, a Canadian joint venture has launched the country’s first stablecoin, pegged to the Canadian Dollar (CAD). Users can trade the new QCAD against Bitcoin, Ethereum, and USDC, plus it’s supported by cryptocurrency custodians Balance and Bitvo.