Yes.
I'm using a 64MB memory card from aliexpress (so not an original one) - with FCMB on it (was sold as "with FCMB on it") - and so far have had no problems with it.
Apparently it is possible, that parts of the FCMB install corrupt to an extend where it stops working, if something goes wrong saving games - so you are encouraged to buy two 64MB emory cards with FCMB on it or - one 8MB and one 64MB both with FCMB on it.
So - if that happens you can use one memory card to copy the FCMB installation back on the other one that might have corrupted.
I'm writing this as a hypothetical, as it hasnt happened to me yet.