[PRESS RELEASE – Salt Lake City, Utah, November 8th, 2024]
CoinZoom, a leading global fintech and payments company, announced the launch of its Crypto Debit Card, empowering 617 million crypto owners worldwide to spend their digital assets instantly at over 130 million merchants in 150 countries. As Bitcoin reaches new highs, CoinZoom’s innovative approach further accelerates the mainstream adoption of cryptocurrency, marking a significant step forward for the global crypto landscape.
“More than 56% of consumers globally prefer debit cards for payments, and we’ve seen over 20% growth year-over-year in our U.S. debit card program,” said Todd Crosland, CEO and Co-Founder of CoinZoom. “With that momentum, expanding internationally was a natural next step.”
The free CoinZoom Crypto Debit Card, available as a virtual card with a physical card coming soon, connects directly to a CoinZoom account, holding both local currencies and cryptocurrencies. Functioning like any standard debit card, it allows users to earn up to 5% back in crypto on eligible purchases through its “crypto-back” rewards program. The card is now available to users in 150 countries.
“One of the biggest barriers to crypto adoption has been, ‘Where can I actually spend it?’” said Ben Crosland, Head of Business Development and Co-Founder of CoinZoom. “With our card, users can pay in local currency or choose from cryptocurrencies like Bitcoin, Dogecoin, or Ethereum. Crypto is now available for everyday purchases, from groceries to dining.”
Previously, merchants had to choose individually to accept cryptocurrencies like Bitcoin, with major brands such as Starbucks, Gucci, Tesla, and Xbox leading the way. However, until now, there hasn’t been a seamless way to spend top cryptocurrencies universally. CoinZoom’s launch can signify a breakthrough moment for the crypto industry, which has gained increased support within the U.S.
“With smartphone access and debit cards at the core of modern spending, this is a no-brainer,” added Paxton Powers, CTO at CoinZoom. “Our card offers an easy way to earn crypto rewards on everyday purchases. Imagine earning $300 in crypto per year just from paying your bills and buying essentials with our card.”
In addition to the debit card, CoinZoom’s free remittance service, ZoomMe, benefits users by making funds instantly available for spending. “Combining ZoomMe with the CoinZoom debit card is a game-changer for anyone who sends money abroad,” said Crosland. “Send funds to family in Mexico, and they can instantly use the funds for purchases or ATM withdrawals without the hassle of cash pickups or paperwork.”
About CoinZoom
CoinZoom is a U.S.-based financial platform enabling users worldwide to send, spend, save, and invest seamlessly. As a U.S.-registered Money Services Business and Money Transmitter, CoinZoom is available in 45 states and operates with a SOC2 Type II Certification, recognized for stringent security standards. With diverse funding options like Apple Pay, Google Pay, debit and credit cards, wire transfers, ACH, and instant cash deposits at multiple U.S. retail locations, CoinZoom bridges traditional and digital finance. Its global peer-to-peer payment system, ZoomMe®, allows users in 169 countries to send cash or crypto instantly and fee-free, offering significant savings on remittance fees. The CoinZoom Crypto Debit Card provides unparalleled spending flexibility, allowing users to transact in USD or crypto at over 130 million merchants globally while earning up to 5% in crypto rewards. CoinZoom also has subsidiaries in Australia and Ireland and is pending registration as a Virtual Asset Service Provider (VASP) in Lithuania.
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