Head of Financial Services Nizam Ismail shares with Channel NewsAsia his views on the launch of the Visa Monaco Crypto Card in Singapore

Head of Financial Services Nizam Ismail shares with Channel NewsAsia his views on the launch of the Visa Monaco Crypto Card in Singapore

RHTLaw Taylor Wessing Head of Financial Services Nizam Ismail was interviewed by Channel NewsAsia on the launch of the Visa Monaco Crypto Card in Singapore. The full interview was featured on Channel NewsAsia’s Singapore Tonight segment on 2 November 2017.

The interview makes relation to Monaco, a cryptocurrency payment platform, that has confirmed the launch of its prepaid card in Singapore based on the VISA gateway. The prepaid card has been approved for issuance to Singaporean residents and accepted at 44 million merchant locations in the payments network.

Nizam pointed out that there is an “obligation on the service provider to look at transaction records and to spot red flags in advance, such as any suspicious movement of funds, on an ongoing basis."

The move marks an important step towards introducing such digital currencies to the mass market. To date, Visa has also approved programmes that allow consumers to convert cryptocurrency into legal tender for BitPay and Shift Card.

Please watch the video for the full interview.