FinTech platform and cryptocurrency exchange CoinZoom has unveiled a new tie-up with Visa that will integrate real-time push payments network Visa Direct and allow real-time disbursements to customers’ eligible cards in 194 countries outside the United States, according to a Monday (June 6) press release.
CoinZoom’s U.S. customers have had access to CoinZoom Instant for a year, the release stated. The service allows users to convert their cryptocurrency to fiat and send fiat funds to eligible cards. It enables money to be pushed into eligible debit and/or prepaid card accounts to complete payouts to consumers, businesses, peer-to-peer (P2P) transfers, app withdrawals and more.
CoinZoom customers can also earn up to 3% back in crypto when they send funds through CoinZoom Instant, according to the release.
“Through CoinZoom Instant, customers can convert crypto and send their fiat to their eligible debit cards in real time, as opposed to waiting two to three days for a bank wire,” said CoinZoom CEO Todd Crosland in the release. “Customers are now able to easily send fiat from one account to another, one bank to another, or one country to another in real time.”
CoinZoom also offers the CoinZoom Visa debit card, allowing its U.S. customers to convert their crypto to fiat and spend it at over 53 million merchants and ATMs globally that accept Visa, the release stated.
The CoinZoom Visa card and cryptocurrency exchange debuted in March 2020, giving customers the ability to purchase, sell and spend digital currencies. The card, which is directly connected to client accounts, lets clients instantly change their digital currency balances to fiat that they can spend at merchants around the globe.
Crosland said at the time, “CoinZoom is not only the first U.S. cryptocurrency exchange to provide a Visa card to its customers but also offers… industry-first features like ZoomMe, CoinZoom’s free peer-to-peer crypto and fiat payment system.”