Hong Kong blockchain start-up rolls out Asia’s first cryptocurrency Visa debit card to t…

Crypto.com, the Hong Kong-based blockchain start-up behind Asia’s first cryptocurrency Visa debit card, said on Wednesday it had applied to issue cards in the city. Over the next two months the company will ship more than 100,000 cards to customers globally, starting with Singapore.

In rolling out the Visa debit card, the company is offering a new instrument for an untapped market. “To holders of cryptocurrencies, having the peace of mind that you can readily convert back into fiat currencies and cash out is very important,” said Kris Marszalek, Crypto.com co-founder and chief executive.

“Not all exchanges support crypto-to-fiat transactions, and even if you hold your digital assets at the exchanges’ wallet, the withdrawal process is also complicated. We believe our product addresses a real need, and enhances trust in digital assets,” he said.

China to block more than 120 offshore cryptocurrency exchanges as crackdown escalates

The company, called Monaco before a name…