The US-based digital asset exchange CoinZoom has joined Visa's Fintech Fast Track Program which will allow the exchange to speed up the process of integrating with Visa.
As part of the collaboration CoinZoom will launch CoinZoom Instant which will allow customers to convert their crypto to fiat and send funds to their debit cards.
“Through our expanded collaboration with Visa, we will be able to provide a premier service to global customers in the peer-to-peer marketplace, that totals over $20T per year. Through the integration with Visa Direct our U.S. customers will be able to convert crypto and send their fiat to their eligible debit cards in real-time, as opposed to waiting 2-3 days for a bank wire.”
Visa’s Fintech Fast Track Program aims to make it easier for fintechs to apply to work with Visa following a fast-tracked approval process. With reduced expenses for qualifying participants and a dedicated Visa team to provide support and guidance, participants will receive unprecedented access to Visa experts, technology, and resources.
Terry Angelos, SVP and Global Head of Fintech, Visa commented on the collaboration:
"By joining Visa's Fast Track program, exciting Fintechs like CoinZoom gain unprecedented access to Visa experts, technology, and resources. Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency."
Earlier this year Visa announced that it would pilot settlement of payments with USD coin on the Crypto.com platform and that it would expand this to other partners later in the year. The payments service has joined a number of major institutions such as NY Mellon, BlackRock, and Mastercard that have made moves into cryptocurrency.
CoinZoom's leading product is its CoinZoom Visa card, which provides users with the ability to instantly convert crypto to fiat and spend it at over 53M merchants globally.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.