ZenGo to launch debit card in partnership with Visa

The startup behind the non-custodial cryptocurrency wallet ZenGo has joined the Visa Fast Track program. TechCrunch reports.

ZenGo’s team expects this will help launch its own card in 2021. Initially, it will be available to U.S. residents.

Ouriel Ohayon, the head of the startup, said the card is not custodial — it will be linked to a wallet controlled by the user. ZenGo will enable converting cryptocurrency into fiat to pay at terminals or withdraw cash.

Visa launched the Fast Track program in July 2019. It is aimed at fintech companies seeking to accelerate growth through the resources and services of the payments giant.

Earlier, the Fast Track participant became a crypto company Ternio. This was part of its plan to close the gap between traditional finance and cryptocurrencies.

Earlier in September, the cryptocurrency lending platform Cred joined the Fast Track program. It planned to issue credit cards, extend loans in fiat currency against them and transfer interest payments to users’ bank accounts.

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