According to a press release shared with Crowdfund Insider, the CoinZoom Visa Card allows users to instantly convert their cryptocurrency holdings to fiat currency and also spend it at more than 53 million Visa merchants worldwide.
As noted in the announcement:
“The CoinZoom Visa Card is linked directly to customer accounts, where customers can pre-select the wallet they wish to debit when they use the CoinZoom Visa. Customers can select either their fiat wallet or Bitcoin (BTC), XRP, Ether (ETH), Litecoin (LTC), or dozens of other coins they may have in their crypto wallet.”
The CoinZoom Visa Card uses the latest technology in credit cards, which includes performing transactions via Chip, Contactless and PIN. The card also allows users to make cash withdrawals from ATMs.
As explained in the release, when clients use their CoinZoom Visa Card, the trading platform’s authorization engine quickly converts virtual currencies to US dollars, which are then used to make the purchase. Customers may earn as much as 5% card rewards back on all purchases.
Todd Crosland, founder and CEO at CoinZoom, stated:
“Visa’s dominance as a global leader in digital payments, is a [great] asset as CoinZoom [tries] to reshape the global cryptocurrency marketplace. Our goal is to provide cryptocurrency traders with the best platform for buying, selling, and spending digital assets.”
Crosland added that CoinZoom also offers features like ZoomMe, which is CoinZoom’s free-to-use peer-to-peer (P2P) crypto and fiat payment system.
Crosland explained that customers can send crypto and fiat money instantly to their friends and family members from anywhere in the world, at no cost. CoinZoom also provides users with a premier fiat gateway for funding their exchange accounts.
Several funding options are available, including via Visa and Mastercard debit cards.
CoinZoom has also introduced CoinZoom Pro, which is an IOS-based crypto trading app that can be downloaded from the Apple App Store.
The App allows users to conveniently buy, sell, send, and spend digital currencies, and features a virtual CoinZoom Visa Card that helps track and manage transactions.
CoinZoom is reportedly a US registered Money Services Business with FinCen in all 50 US states and territories. The exchange platform is also a US registered Money Transmitter, and is licensed to offer trading services in more than 45 states.
CoinZoom operates subsidiaries in Australia and Ireland. CoinZoom Australia Pty Ltd is registered as a virtual currency exchange with AUSTRAC and CoinZoom Europe Ltd is registered in Ireland.