The Crypto.com cryptoactive exchange announced on Thursday (11) that it will start issuing the Crypto.com Visa card in Brazil, following launches in Singapore, United States, Europe, Asia and Pacific countries, Canada and Australia.
The company’s crypto card will allow users to convert their cryptocurrencies into reais for use in payments wherever the Visa network is accepted. The confirmation comes just seven months after the company unveils its global partnership with Visa. Together with Australia, Brazil becomes the second country in which Crypto.com is a main member of the Visa network.
Now, the global cryptocurrency broker will be able to directly issue its own Visa cards in Brazilian territory. According to an official statement, the new development represents a major step in Crypto.com’s mission to accelerate the adoption of cryptocurrency payments worldwide.
With the Crypto.com card, Brazilians will be able to convert their cryptocurrencies into reais to use in various payments in places where Visa is accepted.
The Visa Crypto.com card includes benefits such as up to 8% refund on all expenses. The card program also offers 100% refunds on Spotify, Netflix and Amazon Prime, and has no fee or annual fee. Its use can be better used on cashback platforms such as Coingoback, which returns you part of the amount spent in bitcoin.
Research shows interest in cryptocurrency cards
According to a recent study commissioned by Crypto.com, one in three Brazilians who have not yet invested in cryptocurrency said they would be ready to make that investment if they had a card that allowed them to withdraw from an ATM.
Meanwhile, more than a quarter of respondents said they would be ready to invest in cryptocurrency if they could convert and use those features to make purchases online or in person using a card.
“Brazil is an important market for Crypto.com,” said Crypto.com co-founder and CEO Kris Marszalek. “We will continue to bring our products and services to cryptocurrency users in Brazil. As we continue to expand into more markets, and as Visa’s primary partner, as in the country, we believe customers will be able to benefit from our card program, unlocking their crypto amounts for payments and receiving crypto cashback whenever they use theirs. cards”.
“It is not a surprise that Brazil was the first country in Latin America. We are aware of the ‘appetite’ of Brazilians for innovation and we work together to create solutions that really provide opportunities for new consumption experiences in the crypto ecosystem, and with the convenience and security of Visa cards”, says Eduardo Abreu, Vice President of New Business of Visa do Brasil.
All of this comes at a crucial time for Crypto.com. The company has seen tremendous growth over the past 12 months and has doubled its staff to 2,600 employees worldwide. It has also seen its user base grow fivefold to over 10 million. In Q3 2021, the Crypto.com app became the #1 app in the US on Google Pay.
In May of this year, Crypto.com began localizing its products to users in Brazil by launching fee-free bank transfers in reais, using the Real as the currency in the Crypto.com app, and offering Brazilian Portuguese as a language option in the application and in exchange. Reais can be deposited using TED, DOC or PIX transfers.
Cuy Sheffield, Head of Crypto at Visa, added: “We want to serve as a bridge between the crypto ecosystem and our global network of 80 million merchants. We are happy and excited to be working with platforms like Crypto.com, which are looking to make it easier for users to use their digital currency balances wherever Visa is accepted.”
Users can request the virtual and physical card since Thursday through the Crypto.com app.
The survey commissioned by Crypto.com was carried out in October 2021 through an online panel on the Toluna platform in Brazil. 2,059 people were interviewed, 49% men and 51% women. Of the total public, 40% said they had made some kind of investment in cryptocurrencies last year and 60% said they hadn’t. Respondents were between 18 and 55 years old, with 48% of them reporting having completed high school and incomplete higher education and 45% had completed higher education. More than half (52%) are from the Southeast region.
“Looking for price to hold prev ath from April and this to be a higher low,” trader Pentoshi added analyzing daily timeframes.
“The range we don’t want to go back into is the one we just came from.”
“Moonvember” still holds an increasingly controversial end-of-month price target of almost $100,000.
Deadline for withdrawing from a Chinese cryptocurrency broker that will close in Brazil ends today
Today, November 30th, is the last day that Coinbene’s clients can withdraw their funds from the platform that will permanently cease operating in Brazil as of December 1st.
The Chinese brokerage firm decided to close operations in the country in October this year, after attracting Brazilian clients to its trading platform for about four years.
The decision to close its doors in Brazil was justified by a series of operational restrictions that the company began to suffer from the increase in the Chinese government’s ban on the crypto market. As it is a Chinese exchange, operations on the global platform depended on the central in the Asian country.
On that occasion, an employee of the brokerage provided the Bitcoin Portal that the operational problems at Coinbene were not limited to Brazil and that the company would soon close its operations in the rest of the world.
Later, the information was confirmed by Coinbene’s official channels when the brokerage firm announced the permanent closure of its services in all jurisdictions in which it operated until then.
Also in the October announcement focused on the Brazilian public, the company had set today, the last day of November, as the deadline for all customers to withdraw the balance that was still stored on the platform.
Although November is a day off, at the time the Coinbene team warned users: “After November 31, there will be no customer service staff to accept the withdrawal request. Users need to bear the property losses caused by not withdrawing money in time”.
The process of withdrawing funds, however, may not be so simple as the broker’s website is having problems in the user login area.
In Coinbene’s official Telegram group, focused on Latin American customers, company support confirmed that the problem at login time: “Due to the maintenance of CoinBene’s global server, the page www.coinbene.com/br/ is presenting a problem that is making login impossible. We are very sorry for that.”
To be able to enter the platform, users are required to fill out a form with their personal information such as CPF, address and date of birth and send a photo of their identity card or CNH. In addition, users must also submit a selfie holding their official document along with a paper written “CoinBene” and the date of request.
Only after completing all these steps, the user can have access to a customer service service dedicated to granting withdrawals.
Since the exchange confirmed the departure from Brazil, at least 15 users have complained on Reclame Aqui about the difficulty of withdrawing funds from the platform in this final stage.
A client from São Paulo, for example, wrote last Saturday (27) that he had been trying since the end of October to withdraw the balance in bitcoin he had left standing at Coinbebe for three years, but without success.
“I followed the guidelines, sending the necessary documents and selfie to be able to withdraw on 11/30, but as reported more than once to you (10/30, 11/06, 11/09), no matter how authenticator, pin and e-mail code are correct, I can’t transfer and my questions are not answered”.
He reports that he tried the broker’s international support, but he also had no return. “I’m going to claim my rights in other ways since I’m not getting the support I need from the company,” he concluded.
Another user from Barueri (SP) claimed the same problem, saying that he has more than R$ 10 thousand in cryptocurrencies stuck on the platform and that even after sending more than 50 withdrawal requests, he has not been answered.
The report got in touch with Coinbene representatives in Brazil, but as of this writing, there has been no response.
CBDC: Japan urged to intensify its development
- Japan urged to intensify the development of its CBDC
- Bank of Japan intensifies research
- Government officials continue to mount pressure on BOJ
Countries across the world are presently ramping up preparations to create their respective central bank-backed digital currency. Although some countries have launched their CBDC, China still leads in top countries hoping to list the currency. With China and other countries still in the lead, Japan has been urged to intensify its approach towards making its CBDC. According to the report, politicians have urged the finance officers to make haste and debut its digital currency like most countries.
BOJ intensifies research into its CBDC
Japan has been integral in the adoption of digital assets over the years, and the politicians do not want to lose this status. According to many reports, China is still testing as its CBDC is continually being tested across the country. Recently, it inked several partnerships with brands to intensify the testing in major cities. In its race to outpace China, Japan has bolstered its financial officer, which is tasked with researching every aspect concerning digital currencies. Despite its lengthy move to develop its CBDC, the Bank of Japan has preferred to attack it with caution. But with the increased pressure from the top echelons in the country, the bank might be forced to consider a new and aggressive approach.
WinNow’s cryptocurrency has completed its mainnet launch and looks at a utopian metaverse
ENEVA, SWISS. It just seems 2021 is the year of the metaverse and more and more companies are positioning themselves to be present in what appears to be a trillion dollar business.
On November 16, a group of European developers and cryptocurrency experts launched WinNow ($WNNW) to act as a DAO token in the Wonniw metaverse, a P2E game with real-world dynamics able to generate yield through the choices of its citizens.
A DAO token is a modern form of democratic representation, the participants in the game will therefore be able, through the WinNow token, to take an active part in the decisions on the dynamics of functioning of the metaverse.
According to reports from the team’s Medium, the metaverse Wonniw has all the credentials to be able to try to replicate a utopian reality, in which all citizens and mayors elected by the DAO are equally incentivized towards a common goal called “sustainability”.
The development of the metaverse is in the alpha phase, team has already signed an agreement with a European software house, Falcon Interactive, and the launch of a first playable version is currently scheduled for March 31, 2022.