SALT LAKE CITY, May 12, 2021 /PRNewswire-PRWeb/ -- CoinZoom today announced its partnership with Railsbank to issue Visa debit cards in Europe. From the Summer of 2021, CoinZoom users across Europe will be able to activate their CoinZoom Visa virtual cards and order a physical card to seamlessly convert and spend their crypto anywhere Visa is accepted. The Visa cards can be used both in-store and online, as well as to make cash withdrawals through ATMs.
The CoinZoom Visa Card allows customers to spend funds in their CoinZoom account by pre-selecting the wallet they wish to draw from when they use the card, whether it's fiat, bitcoin, ethereum, litecoin, or whichever coins they have in their crypto wallet.* Cryptocurrencies will first be converted to fiat before a transaction is made using the CoinZoom Visa Card. Depending on the level of card selected by the user they will also earn 1-5 percent back in crypto on every purchase.
CoinZoom is focused on facilitating the global expansion and greater adoption of crypto, and making the CoinZoom Visa card available to more users across the globe is a solid step towards achieving that goal. Collaborating with Visa to bring CoinZoom Visa cards to users in Europe is instrumental in providing an easy and secure way for consumers in multiple continents to buy, sell, trade, send and spend their crypto.
The CoinZoom Visa card will be issued by Railsbank, a global Banking-as-a-Service (BaaS) platform enabling customers in the UK, Europe, SE Asia and the US.
"CoinZoom users in the U.S. are currently spending millions of dollars in crypto every month via their Visa cards," said Todd Crosland, CoinZoom CEO. "We're eager to work with Visa in Europe and offer more of our users the opportunity to easily spend their crypto anywhere Visa is accepted, while earning up to 5% back in crypto back on every purchase."
"At Visa, our goal is to enable the movement of funds in the most simple, secure and convenient way for the consumers and businesses that depend on them. We are uniquely positioned to help make digital currencies more secure, useful and applicable for payments," said Cuy Sheffield, Senior Director and Head of Cryptocurrency, Visa. "Working with providers like CoinZoom, we can make it easier for consumers to convert and spend their crypto, enabling consumers across the globe to have greater flexibility and control of their finances."
CoinZoom, with customers in 185 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 28 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.
*The provision of the following services is not supervised by the Bank of Lithuania.
The CoinZoom Visa Card is issued pursuant to licence from Visa.
UK issuance is conducted by PayrNet Ltd. PayrNet Ltd is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900594).
EU issuance is conducted by PayrNet UAB. PayrNet UAB is authorised by the Bank of Lithuania under the Law on Electronic Money and Electronic Money Institutions (ref LB001994) for the issuing of electronic money and provision of the related payment services.
PayrNet Ltd & PayrNet UAB are both wholly owned subsidiaries of Railsbank Technology Limited and provide regulated financial services to Railsbank customers.
Adrianne Blackett, CoinZoom, Inc., +1 385-887-8492, [email protected]
SOURCE CoinZoom, Inc.