Which crypto wallet just dropped its first digital debit card?

11th May 2021

Crypto wallet and payments platform Zumo has launched its virtual visa debit card. Top Business Tech takes a closer look.

Today Edinburgh-based crypto wallet, Zumo, has announced its visa-powered Zumo Virtual Card. This marks Zumo as the first non-custodial crypto wallet to offer users the ability to hold GBP in their wallet, as well as the ability to spend with a Visa card.

Speaking about this landmark moment for the brand, cofounder and CEO Nick Jones said: “Today marks a huge step forward for us and our customers. The launch of our virtual card will help to make people get comfortable with crypto. Our customers can now easily buy, hold and exchange cryptocurrency in the Zumo app, whilst spending cash using a Visa debit card.”

Innovative partnerships

To launch this product, Zumo teamed up with digital payments platform, Modulr, which will provide the underlying GBP payments infrastructure. Zumo has been working with Modular for one year now to develop a seamless cash-to-crypto payment system. 

The crypto boom

The release of this product comes at an excellent time, as cryptocurrency continues to regain momentum. In addition to this, there has been a marked increase in online sales in the wake of COVID-19, by as much as 74% year-on-year in January 2021. In addition to buying, selling, sending and storing, the app allows for users to convert between Bitcoin and Ethereum, with pounds sterling, and then spend with the new digital card.

Global digital commerce is a game changer for SMBs and local economies. 
Trending
Global digital commerce is a game changer for SMBs and local economies. 

Looking ahead

Zumo is due to release the physical convertible contactless debit card which can be used at shops or any other place which accepts VISA later in the year. “We hope that the familiarity of a debit card will help to introduce new people to cryptocurrencies and help their ascent into the mainstream,” Jones continued.

 READ MORE: 

“Zumo’s Virtual Card bridges the old world of traditional money with the new world of smart money. Safe, simple and secure is the core of the brand’s purpose. Which is exactly what this new product is about.” 

For more news from Top Business Tech, don’t forget to subscribe to our daily bulletin!

Follow us on LinkedIn and Twitter

We think you'll like:

Amber Donovan-Stevens

Amber is a Content Editor at Top Business Tech

Choose an AI solution to transform beyond technology

Kit Cox • 09th December 2024

The first step is knowing exactly what your business wants to achieve with AI; think faster, smarter and more efficient. Once you know what you are working towards, you can start looking for a solution that can help you make it a reality. AI integration can feel like a daunting task at the beginning, so...

A Roadmap to Security and Privacy Compliance

John Lynch Director of Kiteworks • 04th December 2024

Only by understanding the current regulatory environment and implementing robust data protection measures, can organisations enhance their security posture, ensure compliance, and build resilience against the latest cyber threats. This article provides a comprehensive roadmap of how to do it.

Data-Sharing Done Right: Finding the Best Business Approach

Bart Koek • 20th November 2024

To ensure data is not only available, but also accessible to those that need it, businesses recognise that it is vital to focus on collecting, sorting and governing all the data in their organisation. But what happens when data also needs to be accessed and shared across the business? That is where organisations discover a...

Nova: The Ultimate AI-Powered Martech Solution for Boosting Sales, Marketing...

Erin Lanahan • 19th November 2024

Discover how Nova, the AI-powered engine behind Launched, revolutionises Martech by automating sales and marketing tasks, enhancing personalisation, and delivering unmatched ROI. With advanced intent data integration, revenue attribution, and real-time insights, Nova empowers businesses to scale, streamline operations, and outperform competitors like 6Sense and 11x.ai. Experience the future of Martech with Nova’s transformative AI...

How E-commerce Marketers Can Win Black Friday

Sue Azari • 11th November 2024

As new global eCommerce players expand their influence across both European and US markets, traditional brands are navigating a rapidly shifting landscape. These fast-growing Asian platforms have gained traction by offering ultra-low prices, rapid product turnarounds, heavy investment in paid user acquisition, and leveraging viral social media trends to create demand almost in real-time. This...

Why microgrids are big news

Craig Tropea • 31st October 2024

As the world continues its march towards a greener future, businesses, communities, and individuals alike are all increasingly turning towards renewable energy sources to power their operations. What is most interesting, though, is how many of them are taking the pro-active position of researching, selecting, and implementing their preferred solutions without the assistance of traditional...

Is automation the silver bullet for customer retention?

Carter Busse • 22nd October 2024

CX innovation has accelerated rapidly since 2020, as business and consumer expectations evolved dramatically during the Covid-19 pandemic. Now, finding the best way to engage and respond to customers has become a top business priority and a key business challenge. Not only do customers expect the highest standard, but companies are prioritising superb CX to...