New changes are being made to services on the Crypto.com app and DeFi. Over the past few months, we have seen changes to crypto earn rate, cashback rewards, stake rewards, new tokens added for recurring buy, new measures introduced for wallet security, and integration with other innovative projects
Just when we thought we have seen the last of the changes to cashback rewards on Crypto.com Visa card, Crypto.com makes another minor tweak to rebates. The new modification affects reimbursement on certain merchants for the Crypto.com visa cards.
New changes to Crypto.com Visa card reimbursement rewards
Previously, Jade green, Royal Indigo, and Ruby steel Crypto.com Visa cards offered 100% reimbursement on Spotify and Netflix subscriptions. With the new changes, based on the card tier you hold, you can only get up to 5% reimbursement when you use these merchants. Crypto.com card tier activated before 23rd July 2022 will enjoy the previous card reimbursement rate till 23rd January 2022 ( 6 months).
Private visa card tier users (Icy white, Frosted Rose Gold, and Obsidian) will continue to enjoy the existing rate when dealing with the listed merchants. So, the new changes don’t affect the private members’ card tier and they will continue to enjoy full reimbursement on their cards
Top-up fee for Crypto.com Visa card users in the U.S
Crypto.com has announced a change to its top-up fee for U.S users. Formally all visa card top-up means; debit card, fiat wallet, and crypto wallet were free. While topping up your Crypto.com visa card via fiat wallet and crypto wallet for U.S users is still free, they now have to pay a fee to top up their cards using debit cards.
The new changes to topping up crypto.com visa cards using debit cards will be effective from August 12, 2022.
Further Crypto.com expansion to other countries (Cyprus and Singapore)
As part of Crypto.com’s goal to expand its crypto products and services across different countries, the platform has received a green light from two new countries; Cyprus and Singapore.
Expansion to Cyprus
The Cyprus Securities and Exchange Commission (CySEC) has given a regulatory license to Crypto.com. With this certification, Crypto.com will be able to comply with local laws and provide a range of products and services to consumers in Cyprus.
According to Kris Marszalek, Co-Founder, and CEO of Crypto.com, “Europe is a key location for Crypto.com, and our continuing development in the market is a tribute to our dedication to compliance and engagement with regulators.” “As we reach out to more clients, our registration in Cyprus is the next critical step in our ongoing success.”
Possible expansion to Singapore
The Monetary Authority of Singapore (MAS) has granted Crypto.com’s application for a Major Payment Institution License preliminary approval. Once granted, this license would allow Crypto.com to provide consumers in Singapore with a variety of payment services that fall under the Payment Services Act, including services for Digital Payment Tokens (DPT).
According to Kris Marszalek, co-founder, and CEO of Crypto.com, “The Monetary Authority of Singapore sets a high regulatory bar that fosters innovation while protecting consumers, and their in-principle approval of our application reflects the trusted and secure platform we have worked diligently to build.” “We look forward to advancing our presence in Singapore, a thriving market for fintech innovation known for its well-regulated business environment, and to continue our collaboration with the MAS.”
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