Metropolitan Commercial Bank to Issue MCO Visa Cards in the United States

News provided by

Nov 16, 2018, 03:05 ET

JACKSONVILLE, Florida, NEW YORK and HONG KONG, November 16, 2018 /PRNewswire/ --

Today, Metropolitan Commercial Bank and Crypto.com (through its affiliate Foris Inc.) announced that the companies are preparing to rollout the MCO Visa Card program in the United States following its launch in Singapore in October.

Metropolitan Commercial Bank to Issue MCO Visa Cards in the United States (PRNewsfoto/Crypto.com)

(Photo: https://mma.prnewswire.com/media/786028/MCO_Visa_Cards.jpg )

The MCO Visa Card is a prepaid card that features high-end metal cards with no annual or monthly fees, airport lounge access for select cards, no-fee ATM withdrawals, tap-and-pay functionality, and no foreign transaction fees.

Reservations for the MCO Visa Card are made using the Crypto.com Wallet & Card App which includes a three-minute customer onboarding process including ID verification. Using the Wallet app, customers are able to manage their card usage, transactions, and freeze or unfreeze their card with a single tap. To date, over 100,000 MCO Visa Cards have been reserved globally.

The Wallet app also allows users to securely buy, sell, store, send, and track cryptocurrencies - allowing users to spend fiat currency converted from cryptocurrency without currency exchange fees.

Mark DeFazio, President and CEO of Metropolitan Commercial Bank, said, "We are pleased to work closely with Crypto.com and Foris in bringing this innovative product to the US market. This program speaks directly to The Entrepreneurial Bank spirit that we have and seek to promote. The MCO Visa Card is quite unique and provides a bridge between traditional banking and cryptocurrencies in a safe and compliant way."

Kris Marszalek, Co-Founder and CEO of Crypto.com, said, "We are thankful for the support of Metropolitan Commercial Bank in sharing our vision. The market demand for the MCO Visa Card has been overwhelming and we look forward to bringing it to customers as soon as possible. This is another important step towards our mission of accelerating the world's acceptance of cryptocurrency."

Note: All MCO Visa Card transactions are denominated in fiat currency. All cryptocurrency exchanges to fiat currency take place before users may use their MCO Visa Card to transact on the Visa network.

*Use of the Card is subject to the terms and conditions of the applicable Cardholder Agreement and fee schedule, if any. ATM bank fees may apply.

About Metropolitan Commercial Bank

Metropolitan Commercial Bank^®, The Entrepreneurial Bank, founded in 1999 and headquartered in New York City, operates full-service banking centers in Manhattan, New York; Boro Park, Brooklyn; and Great Neck, Long Island. We are a community-focused bank that provides a broad range of business, commercial and personal banking products and services to small businesses, middle-market enterprises, public entities and affluent individuals. In addition to our tradition of relationship-driven, one-on-one personalized service, Metropolitan Commercial Bank offers multiple convenience delivery channels, including online banking, flexible mobile banking apps and no-fee access to over 1 million ATMs worldwide for our clients. The Bank is also an active issuer of debit cards for an increasing number of third-party debit card programs. Metropolitan Commercial Bank is a New York State chartered commercial bank, an FDIC member and an equal opportunity lender.

The parent company of Metropolitan Commercial Bank, Metropolitan Bank Holding Corp., also founded in 1999, is a publicly traded company. The common stock of Metropolitan Bank Holding Corp. is listed on the New York Stock Exchange (NYSE) and trades under the ticker symbol "MCB."

For more information about Metropolitan Commercial Bank, visit the Bank's website at http://www.MCBankNY.com.

About Crypto.com

Crypto.com, the pioneering payments and cryptocurrency platform, through its affiliates including Foris Inc., headquartered in Jacksonville, FL, seeks to accelerate the world's transition to cryptocurrency. Crypto.com is headquartered in Hong Kong. For more information, please visit: http://www.crypto.com.

SOURCE Crypto.com