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- CoinZoom was the first cryptocurrency exchange to offer Visa cards to its U.S. clientele and will expand to Europe this summer.
- Integrating Visa Direct, CoinZoom Instant offers instant crypto conversion and fiat transfer to the designated debit cards in real-time.
- CoinZoom CEO, Todd Crosland, said they are “excited” for the collaboration and services expansion.
CoinZoom, an institutional-grade digital currency-trading platform, became the latest addition to the unending list of firms seeking integration with the multinational financial services giant Visa Inc. through its Fintech Fast Track program. Announced Friday, on PRNewswire’s PRWeb, the merger allows CoinZoom to easily leverage Visa’s global payment network offered functionalities, including reach, capabilities, and security, to provide a better and faster payment interface to its customers.
CoinZoom And Visa
Launched in March 2020, CoinZoom was the first cryptocurrency exchange to offer Visa cards to its U.S. clientele, which will be expanding to Europe this summer. The CoinZoom Visa debit cards enable users to convert their crypto to fiat and spend at over 53 million Visa accepting merchants and ATMs worldwide. CoinZoom now plans to introduce an innovative service that simplifies the fund transfer process, CoinZoom Instant.
Integrating Visa’s real-time push payments platform, Visa Direct, CoinZoom Instant will offer instant crypto conversion and send fiat funds to debit cards to execute business payouts, peer-to-peer transfers, app withdrawals, etc. Additionally, funds transfer through CoinZoom Instant will also qualify the user to receive up to 3 percent back in crypto.
Fund Transfer In Real-Time.
Todd Crosland, the CoinZoom CEO, shared, they are “excited” to expand their services and launch CoinZoom Instant through the collaboration with Visa. At the time, the exchange offered free and instant transfer of “fiat or crypto” through its “peer-to-peer transfer feature, ZoomMe.” But following the expansion, CoinZoom’s global client base “in the peer-to-peer marketplace, that totals over $20 trillion per year,” will be provided “a premier service.”
Thanks to the integration with Visa Direct, instead of “waiting 2-3 days for a bank wire,” the exchange’s U.S. customers will be facilitated with crypto conversion and fiat transfer to the “eligible debit cards in real-time.” With CoinZoom Instant, customers can “easily send fiat or crypto from one account to another, one bank to another, or one country to another in real-time.”
Perks Of Joining The Fast Track Program
According to Terry Angelos, SVP and Global Head of Fintech at Visa, one of the major perks of joining Visa’s Fintech Fast Track program is that firms like CoinZoom “gain unprecedented access to Visa experts, technology, and resources.” Through Fast Track, the financial services company gets to help and share “new resources that rapidly growing companies need to scale with efficiency”.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
