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CoinZoom Joins With Railsbank to Issue Visa Debit Cards

CoinZoom Joins With Railsbank to Issue Visa Debit Cards
  • CoinZoom collaborated with Railsbank to issue Visa Debit Cards in Europe.
  • The CoinZoom Visa Card allows customers to spend their crypto funds.
  • CoinZoom hopes the card will drive wider global crypto adoption.

On May 12 2021, CoinZoom announced a collaboration with Railsbank. The two will partner to issue Visa Debit Cards in Europe from the Summer of 2021.

Moreover, CoinZoom users in Europe will activate their CoinZoom Visa virtual cards and order a physical card. Thus, users can seamlessly convert and spend their crypto wherever Visa is accepted.

More so, the Visa cards can be used both in-store, online, and also to make cash withdrawals via ATMs. Moreover, the CoinZoom Visa Card enables customers to spend funds in their CoinZoom account. Users can pre-select the wallet they would like to draw from when they utilize the card. Thus, users can easily access their fiat, Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), or whichever coins they have in their crypto wallet.

Prior to the transactions, the cryptocurrencies will first be converted to fiat before execution through the CoinZoom Visa Card. Based on the selected card level, users will also get from 1% to 5% back in crypto on every purchase.

CoinZoom aims to help drive the global expansion and wider adoption of crypto. Moreover, the CoinZoom Visa Card makes crypto transactions available to users across the globe. To clarify, the card offers an easy and safe way for consumers in many continents to buy, sell, trade, send, and spend their crypto. Even more, partnering with Visa to bring CoinZoom Visa Cards to users in Europe is instrumental.

Views of Todd Crosland and Cuy Sheffield

The CoinZoom Visa card will be provided by Railsbank, a global Banking-as-a-Service (BaaS) platform. It allows customers in the UK, Europe, SE Asia and the US.

CoinZoom CEO Todd Crosland said,

“CoinZoom users in the US are currently spending millions of dollars in crypto every month via their Visa cards…We’re eager to work with Visa in Europe and offer more of our users the opportunity to easily spend their crypto anywhere Visa is accepted, while earning up to 5% back in crypto back on every purchase.”

In addition, Senior Director and Head of Cryptocurrency, Visa Cuy Sheffield also shared this view. Moreover, their goal is to allow the movement of funds in the most secure, simple, and convenient way. However, the cards are uniquely made to support digital currencies to be more secure, useful, and applicable for payments.

All in all, CoinZoom is the next-generation digital asset exchange that uses the team’s vast experience in providing superb trade quality, customer-focused tools, and technology. In addition, the platform has customers in 185 countries. CoinZoom provides services in buying, selling, and spending Bitcoin, Ethereum, and over 28 top digital currencies.

CoinZoom’s premier product is its CoinZoom Visa card, which enables customers the ability to instantly convert crypto to fiat and spend it at over 53 million merchants globally. Moreover, CoinZoom also provides global customers a premier Peer-to-Peer payments system via ZoomMe.

Furthermore, the team’s decades of experience in financial technology security are fully important in safeguarding users’ funds. For instance, CoinZoom is a US-registered Money Services Business with FinCen in all 50 territories and states. Moreover, CoinZoom is also a US registered Money Transmitter, available for trading in 48 states. Added to this, CoinZoom also has subsidiaries in Australia and Ireland. CoinZoom Australia PTY LTD is registered as a Digital Currency Exchange with AUSTRAC. Also, CoinZoom Europe Limited is registered in Ireland.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.