A United States exchange, CoinZoom, plans to compete with Coinbase’s Coinbase Card via its CoinZoom Visa Card. This will allow customers to trade, buy, and sell cryptocurrencies as they please.
“The CoinZoom Visa Card allows customers to instantly convert their crypto balances to fiat and spend at over 53 million Visa merchants worldwide,” a press release on the matter notes.
CoinZoom’s Visa ensures users can convert fiat to crypto (or vice-versa) instantly. It supports Litecoin, Ethereum, Ripple, Bitcoin, and more.
It’s also worth noting that Coinbase Card is only available in the United Kingdom and other European countries. CoinZoom’s Visa card is available in the United States and to over “53 million Visa merchants worldwide,” making them a viable competitor.
CoinZoom’s Visa works just like other fiat cards, in that it has a PIN, cashback rewards, a chip for payments, and much more.
The CEO of CoinZoom spoke on the matter:
“We are extremely pleased to work with Visa as we launch CoinZoom. Visa’s dominance as a global leader in digital payments, is a tremendous asset as CoinZoom begins to reshape the global cryptocurrency marketplace.”
On top of this, CoinZoom launched its Pro application on iOS.
Other companies, such as Lumi, are launching similar cards as well. This, of course, is to ensure mainstream adoption.