CoinZoom customers outside of the U.S. can now send funds from their CoinZoom wallet directly to their eligible debit and prepaid cards in real time.
SALT LAKE CITY, June 6, 2022 /PRNewswire-PRWeb/ -- CoinZoom, a U.S. based cryptocurrency exchange and leading fintech company, today announced its latest collaboration with Visa to integrate Visa Direct (1), Visa's real time (2) push payments network, to support real-time disbursements outside the U.S. With the help of Visa Direct, CoinZoom can send funds directly to customers' eligible cards in 194 countries.
CoinZoom Instant has been live and popular for CoinZoom's U.S. customers for a year and the company is eager to offer this service to its customers around the world. With the most recent announcement, CoinZoom Instant will allow customers outside the U.S. to convert their crypto to fiat and send fiat funds to eligible cards. This new service will help enable money to be pushed into eligible debit and/or prepaid card accounts to complete payouts to consumers, businesses, peer-to-peer transfers, app withdrawals, and more. CoinZoom customers will also receive up to three percent back in crypto when they send funds through CoinZoom Instant.
Fast payments have seen increased adoption, which have helped global peer to peer flows reach $20 trillion in 2020 (3), with projected annual growth of 12 percent by 2024 (4). The Global Remittance Market is estimated at 901.4 Billion in 2022 and expected to reach 1207.41 Billion by 2027, growing at a rate of 6.02% (5). The Visa Direct program allows customers to deliver funds to over 3+ billion cards globally.
CoinZoom offers a robust, user-friendly, peer-to-peer crypto and USD remittance service. Its proprietary ZoomMe feature allows users to send both crypto and USD to anywhere in the world, instantly for free.
"Through CoinZoom Instant, customers can convert crypto and send their fiat to their eligible debit cards in real-time, as opposed to waiting 2-3 days for a bank wire," said Todd Crosland, CoinZoom CEO. "Customers are now able to easily send fiat from one account to another, one bank to another, or one country to another in real-time."
CoinZoom also offers the CoinZoom Visa debit card, allowing its U.S. customers to convert their crypto to fiat and spend it at over 53M merchants and ATMs globally that accept Visa.
CoinZoom, with customers in 194 countries, is the next generation digital asset exchange that uses the team's vast experience in providing superb trade quality, customer-focused tools, and technology that help customers become successful traders. CoinZoom offers services in buying, selling, and spending Bitcoin, Ethereum, and over 40 top digital currencies. CoinZoom's premier product is its CoinZoom Visa card, which allows customers the ability to instantly convert crypto to fiat and spend it at over 53M merchants globally. CoinZoom also offers global customers a premier Peer-to-Peer payments system called ZoomMe. CoinZoom customers can send fiat and crypto anywhere in the world, instantly for free. The team's decades of experience in financial technology security are equally important in safeguarding customer funds and customers' digital currency positions. CoinZoom is a U.S. registered Money Services Business with FinCen in all 50 states and territories. CoinZoom is also a U.S. registered Money Transmitter, available for trading in 48 states. CoinZoom also has subsidiaries in Australia and Ireland. CoinZoom Australia PTY LTD is registered as a Digital Currency Exchange with AUSTRAC and CoinZoom Europe Limited, is registered in Ireland.
(1) Visa Direct capability will be enabled through CoinZoom's financial institution partner
(2) Actual fund availably depends on receiving financial institution and region
(3) Visa Investor Day 2020
(4) Juniper Research, "Digital Money Transfer & Remittances, Domestic & International, 2019-2024"
(5) ResearchandMarkets.com, "Global Remittance Market (2022-2027) by Appliance, Channel, Type, End User, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis"
Adrianne Blackett, CoinZoom, 1 385-355-6540, [email protected]