Quick Breakdown
- Crypto.com Visa Card issued by FCA-authorised ForisGFS UK Limited.
- Card funds are held in segregated accounts but not covered by FSCS.
- Other Crypto.com services operate independently and are not subject to UK regulatory protections.
Crypto.com has provided an update on the operations and regulatory framework of its Visa Card in the United Kingdom. The card, issued by ForisGFS UK Limited, is an electronic money product authorised by the UK Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 (Firm Reference Number 988571).
ForisGFS UK Limited, incorporated in the United Kingdom with registration number 12586871, holds customer funds in segregated accounts. According to Crypto.com, this ensures that users’ funds are protected from creditors’ claims if the company were to become insolvent. However, unlike traditional bank accounts, the Crypto.com Visa Card is not covered by the UK Financial Services Compensation Scheme (FSCS).
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— Crypto.com (@cryptocom) November 24, 2025
Electronic money product with regulatory safeguards
The Crypto.com Visa Card enables users to spend cryptocurrencies and fiat balances through the Visa network. As an electronic money institution, ForisGFS UK Limited maintains operational oversight, regulatory compliance, and consumer protections in accordance with FCA guidelines. The firm’s segregated account structure provides an additional security layer for users’ funds, allowing access to their funds even in unlikely scenarios of insolvency.
Crypto.com emphasises that while the Visa Card is issued by ForisGFS UK Limited, other products and services on the Crypto.com platform are provided by separate group companies. These offerings operate independently and are not covered by the same regulatory protections as the UK-issued Visa Card. Users should therefore be aware of the distinction between the card’s regulated status and other services available on Crypto.com’s website or app.
Consumer awareness and crypto usage
The clarification comes amid growing interest in crypto-backed payment solutions in the UK and Europe. By highlighting the card’s FCA authorisation, segregated account protections, and regulatory limitations, Crypto.com aims to reinforce transparency and consumer confidence. The company encourages users to understand the legal and financial framework underpinning the Visa Card before using it.
Meanwhile, in a separate development, Crypto.com has formed a strategic partnership with the Sui Foundation to provide institutional-grade custody and liquidity services for SUI.
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