Crypto debit cards are pretty popular these days and a company from Utah is the latest crypto-related firm to announce one. CoinZoom has announced the launch of the product today.
According to the company, it will be based on Visa technology and can be used to convert several crypto assets into cash. At the launch, people will be able to use Bitcoin (BTC), Ethereum (ETH), Ripple’s XRP, Litecoin (LTC) and some others of the most popular coins in the market. The card can also be paid with fiat and you can use it for payments or withdraw money at ATMs.
CoinZoom’s CEO Todd Crosland has affirmed that Visa is currently the global leader in the market, which is what makes the partnership so powerful. This is true. There are several cards in the market right now using Visa. Bitpay and Wirex, for instance, are two popular services that have Visa-based debit cards.
Not only is the crypto company launching a visa debit card soon, but it will also launch a mobile trading app as well, which can be used on both Android and iOS. The app can also track the money which is being spent on the card.
CoinZoom is expanding a lot recently. The company has opened up shop in Dublin last year and more recently in Australia. These offices were set to help in the worldwide expansion that is being planned by the company.
A few months ago, the company also acquired Equity Capital, which was rebranded to CoinZoom Securities soon after. The new entity will be focused on the digital securities market. It has the goal of providing lower entry costs, strong regulatory compliance and to change the way that capital can be raised in the market.