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Fresh Off The Block: Crypto.com to issue Visa card in Singapore and more

Khairani Afifi Noordin
Khairani Afifi Noordin11/7/2022 12:21 PM GMT+08  • 2 min read
Fresh Off The Block: Crypto.com to issue Visa card in Singapore and more
Cake DeFi launches B2B vertical while BigPay partners TripleA to allow crypto top-ups in Singapore. Photo: Crypto.com
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Crypto.com has become Visa’s associate programme member in Singapore, allowing the company to issue its own Visa card in-market.

The Crypto.com Visa Card prepaid card will have a cryptocurrency ability and can be accepted by more than 80 million merchants. To apply for the card, users will need to stake Cryptp.com’s CRO tokens for a period of 180 days, according to its website. Five tiers of cards are available, with cash back rewards of up to 5%.

CRO tokens are currently trading at 12.3 US cents each (17 cents), down about 77% year-to-date.

Photo: Cake DeFi

Decentralised finance (DeFi) platform Cake DeFi has launched its business-to-business (B2B) vertical Cake DeFi Enterprise. It seeks to offer enterprise-grade DeFi solution,with plans to launch services such as liquidity mining, token swaps and lending in the initial phase followed by a suite of other services.

See also: Crypto firm Genesis is preparing to file for bankruptcy

“Our new B2B vertical Cake DeFi Enterprise supports the Singapore government’s direction on digital asset innovation. We are committed to building the B2B digital asset infrastructure and uplifting Singapore’s blockchain ecosystem to drive innovations in fintech,” says Cake DeFi chief technology officer and co-founder U-Zyn Chua.

Photo: BigPay

See also: Founders of Three Arrows Capital mocked after seeking to raise US$25 mil for new venture

Airline operator Capital A’s fintech unit BigPay has partnered with a Monetary Authority of Singapore (MAS) licensed crypto payment gateway TripleA to allow its users to top-up their debit cards with cryptocurrencies. The partnership enables BigPay users to convert their crypto assets into cash to spend using their BigPay debit cards.

The cryptocurrencies currently accepted for the top-up are Bitcoin, Ethereum, USD Coin, and Tether. BigPay has also recently added three new services to its Major Payment Institution license issued by the MAS for account issuance service, domestic money transfer and e-money issuance service in Singapore.

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