Crypto.com Visa Cards in GCC to Be Replaced by Mastercard – What You Need to Know

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The landscape of crypto-powered payment solutions in the Gulf Cooperation Council (GCC) region is undergoing a significant transformation. Crypto.com, one of the world’s leading cryptocurrency platforms, is set to replace its existing Visa-supported cards with new Mastercard-backed prepaid cards across the GCC. This strategic shift marks a pivotal moment for digital finance adoption in one of the fastest-growing crypto markets globally.

The change follows Mastercard’s recent issuance of a license to Crypto.com, authorizing the Hong Kong-based exchange to offer prepaid payment card services in the region. The rollout will begin in Bahrain in early 2025, with plans to expand across all GCC countries—including Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates—shortly thereafter.

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Seamless Integration Across All Card Tiers

One of the most compelling aspects of this transition is its inclusivity across Crypto.com’s entire card ecosystem. The new Mastercard-powered prepaid cards will be available at all five card tiers, including the premium Black Obsidian level. This top-tier offering continues to deliver exceptional benefits such as up to 8% cashback rewards and USD-denominated card payments—now enhanced by Mastercard’s global acceptance network.

Users will be able to fund their accounts seamlessly through the Crypto.com App, digital wallets, or via third-party credit and debit cards. This multi-channel funding approach ensures flexibility and ease of use, aligning with the growing demand for frictionless digital finance tools in the region.

Why Mastercard? Expanding Trust and Reach

The partnership isn’t just about replacing one card network with another—it's about strengthening trust, security, and global interoperability. Amnah Ajmal, Executive Vice President of Market Development at Mastercard, emphasized the significance of this collaboration:

“Crypto.com will now have access to our global network, enabling transactions wherever Mastercard is accepted. Our innovative payment solutions are powered by cutting-edge technology, supported by comprehensive tools designed to enhance transaction security and fraud protection.”

This statement underscores Mastercard’s commitment to integrating digital assets into mainstream finance while maintaining robust regulatory compliance and consumer safeguards.

Regional Expansion and Digital Asset Adoption

The GCC has emerged as a forward-thinking hub for blockchain innovation and digital asset adoption. Governments across the region have implemented progressive regulations and launched national initiatives supporting fintech, Web3, and central bank digital currencies (CBDCs). By partnering with Mastercard, Crypto.com positions itself at the forefront of this digital transformation.

While Bahrain serves as the initial launch market, Mastercard has confirmed its intention to extend Crypto.com’s services throughout the GCC. This phased expansion reflects both the regulatory maturity of individual markets and the increasing consumer appetite for crypto-integrated financial products.

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Clarifying the Impact on Existing Visa Cards

A common question among users is whether this change affects existing Crypto.com Visa cardholders outside the GCC. The answer is clear: no. The transition applies exclusively to users within the GCC region, where Visa-supported Crypto.com cards are currently unavailable. Users in other regions who hold Visa-backed Crypto.com cards will continue to enjoy uninterrupted service.

In essence, this move represents a regional rebranding and infrastructure upgrade rather than a global phase-out of Visa partnerships.

Addressing Regulatory Concerns: The Poland Warning

While the GCC expansion moves forward, it’s important to acknowledge recent regulatory scrutiny faced by Crypto.com in other jurisdictions. In November, Poland’s Financial Supervision Authority (KNF) issued a public warning against Foris DAX MT—the Malta-based entity operating under the Crypto.com brand—over concerns about unauthorized financial activities in the country.

However, it's crucial to note that this was not a ban. The KNF alert serves as a cautionary notice to Polish investors, reminding them of potential risks associated with using unlicensed platforms. According to Polish law, specifically Article 178 of the Financial Instruments Trading Act, any entity offering brokerage or investment services must hold proper authorization.

The regulator also reported possible violations by Foris DAX MT to the Warsaw District Prosecutor’s Office. Despite this, Crypto.com is not blacklisted, and company representatives have stated they are actively working with legal advisors to address any regulatory concerns raised by KNF.

Tomek Kolodziejczuk, a prominent Bitcoin advocate in Poland, clarified that while the warning should be taken seriously, it doesn't equate to an outright prohibition on usage.

Frequently Asked Questions (FAQ)

Q: Are Crypto.com Visa cards being discontinued globally?

A: No. Only in the GCC region will Visa cards be replaced by Mastercard. Users outside this region will continue using Visa-powered cards without interruption.

Q: When will the Mastercard rollout begin?

A: The new Mastercard-based Crypto.com cards will launch in Bahrain in early 2025, with gradual expansion across other GCC countries.

Q: Will I lose my rewards or card benefits during the transition?

A: No. All existing benefits—including cashback rates, insurance perks, and reward structures—will carry over to the new Mastercard versions.

Q: Can I still use my Crypto.com card outside the GCC?

A: Yes. The card remains functional internationally wherever Mastercard is accepted, subject to local regulations.

Q: Is Crypto.com banned in Poland?

A: No. The KNF issued a warning about unlicensed operations but did not impose a ban. The company is addressing compliance matters with legal counsel.

Q: How do I fund my new Mastercard-powered Crypto.com card?

A: Funding options include the Crypto.com App, linked e-wallets, and third-party credit or debit cards—offering multiple convenient methods.

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Looking Ahead: The Future of Crypto Payments in the Middle East

As digital asset adoption accelerates across the Middle East, strategic collaborations like the Crypto.com–Mastercard partnership play a vital role in bridging traditional finance with decentralized ecosystems. With strong regulatory support, technological innovation, and growing consumer interest, the GCC is poised to become a model for how nations can responsibly integrate cryptocurrency into everyday financial life.

For users, this means greater convenience, enhanced security, and broader acceptance—key drivers for mainstream crypto adoption.

By aligning with a globally trusted payments network like Mastercard, Crypto.com reinforces its commitment to delivering reliable, scalable, and compliant financial products tailored to evolving market needs.

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