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A credit card for your cryptomoney, linked to a wallet on blockchain

Long awaited by the community, debit cards based on cryptosystems have become almost "common" today, with several serious competitors (Binance, Coinbase, Crypto.com, ...). However, the ZenGo project brings a new type of card, which does without any custodial service.


No more need for anyone to manage your crypto card.

In a blog post, the ZenGO teams announced that they have joined the Fast Track program of payment giant Visa to develop and launch a 100% crypto payment card early next year.

This ZenGo debit card will be one of the first to be linked to a wallet on blockchain, supporting several crypto-actives that will remain under the direct control of their user.

In an interview with crypto-media company CoinDesk, ZenGo CEO Ouriel Ohayon explains that :

"Competing offers are only a foretaste of what cryptomoney is all about, as they only allow you to have an IOU on your cryptomoney (...). ZenGo's future card is the only one linked to a user-controlled wallet, where the user has full management of these funds, these funds being directly on chain (on the blockhain). »


Visa pushes crypto innovation

The automatic conversion of the cryptomoney into currency is provided by the Visa network. This makes it possible to pay for any goods or services at all merchants accepting Visa cards, or even to withdraw cash from ATMs.

"As the preferred network for electronic payments, we are delighted to help innovative companies like ZenGo leverage the value of the Visa network.... Through the Fast Track program, we can support ZenGo by giving them access to Visa's experts, technology and resources so that they can grow effectively. "Cuy Sheffield, Head of Crypto at Visa.

A little extra that will make life easier for the users of this new card: it uses a technique known as "multi-party computation". It saves users from having to write down their private keys, while protecting them even if their phone is lost or stolen.

The project aims to launch the new card in the United States initially in the first few months of 2021.

As ZenGo's CEO concludes, "an increasing number of people want to use cryptomoney for their daily life. What could be better than being able to spend your cryptos without having a custodial intermediary, while still having the ease of use of a bank card?


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1 Comments


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