Zengo unveils crypto payment card powered by Visa
By Pavithra R
The crypto-industry had reached a new stage; one in which use cases for crypto go way beyond simply storing wealth and trading assets for the sake of trading. People are looking forward to being able to spend crypto, to move r funds in and out of crypto, seamlessly. The rise of stable coins, failing economies, fragile national currencies, and the outcomes of the COVID crisis have made the need for an alternative, spendable currency a true necessity.
By joining the Fast Track program, ZenGo will be able to leverage the reach, capabilities, and security that Visa offers and will enable the company to develop a co-branded innovative payment card allowing ZenGo customers to simply spend their funds online and offline with retailers.
“This is an important step forward in our quest to make crypto-currency useful and usable by everyone. Payment is one of the most important and underserved needs of our industry and we are excited to work with Visa on this.” said Ouriel Ohayon, CEO of ZenGo
The new ZenGo’s credit card will be the first card tied to a self-hosted, on-chain, multi-currency wallet where funds are controlled by the user. Through the launch, the company is on a goal to set a new standard. Customer who has ZenGo wallet can apply for the card. With the ZenGo Visa card, customers will be able to spend their funds anywhere in the world (anywhere visa is accepted) online and offline.
“As the preferred network for digital currency wallets, we are excited to help innovative FinTechs like ZenGo harness the value of Visa’s network, Through the Fast Track program, we can support ZenGo with access to Visa’s experts, technology, and resources to scale with efficiency,” said Cuy Sheffield, Head of Crypto at Visa.
The company is planning to launch the card in the USA at first, before expanding to more locations.
Founded in 2018, ZenGo is on a mission is to make crypto accessible and usable to anyone, anywhere in the world. The company offers an all-in-one multi-currency crypto wallet focused on simplicity and safety aimed at mainstream investors. ZenGo is based on keyless security, meaning funds are always in the control of the user, and unlike classical wallets, the security does not depend on complex passwords schemes, or private keys. It eliminates the need for a customer to write down or even remember passwords or private keys even in the event that their phone is lost or stolen.
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