- CoinZoom Visa Card is a debit card that can instantly convert crypto into fiat.
- Bitcoin, Ripple, Ethereum, Litecoin, etc. can be spent in any location that accepts visa payments.
CoinZoom, a Utah-based crypto exchange, has announced the upcoming launch of the CoinZoom Visa Card. This is a debit card that can be used to convert cryptocurrency into fiat instantly. It can be spent at any retail location that accepts chip, contactless, or PIN payments from Visa. The card, which is expected to be launched by the end of this year, can also be used to make ATM withdrawals.
Before using the card for purchases, the user must select the balance of either fiat or crypto (bitcoin, ripple, ethereum, litecoin or other coins) that they wish to be debited. Todd Crosland, founder and CEO of CoinZoom, stated that Visa’s status as a global leader in payments was a “tremendous asset” to the firm. Along with the Visa card, the company is launching a mobile trading app that contains a virtual copy of the card. Customers can use the track to track of manage their transactions.
The launch of the debit card is one of the first steps taken by the firm towards global expansion and greater adoption of its services. In May, Seed Equity Capital, an investment firm, rebranded to “CoinZoom Securities.” Crasland had then said:
“[T]he new name…allows us to emphasize our wide-ranging business objective around changing the way that capital is being raised, with the goal of increasing access, lowering costs and improving regulatory compliance particularly with the issuance of digital securities.”