RATE Group | Regulated Exchange Launches in US With Crypto-Backed Visa Card Offering
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Regulated Exchange Launches in US With Crypto-Backed Visa Card Offering

19 Mar Regulated Exchange Launches in US With Crypto-Backed Visa Card Offering

Posted at 05:44h in Cryptocurrency News by

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A FinCEN-registered crypto exchange has launched with its own debit card that allows holders to pay for goods and services with digital assets.

Utah-based CoinZoom announced Wednesday it would begin onboarding new institutional and retail clients, and will offer a Visa payment card that instantly converts cryptocurrencies into U.S. dollars.

As a registered money service business with FinCEN in most U.S. states and territories, CoinZoom has to comply with local regulations, including those concerning consumer protection and know-your-customer (KYC) requirements. The exchange is also licensed as a money transmitter in the U.S., as well as a digital currency exchange in Australia.

CoinZoom supports most prominent cryptocurrencies, such as bitcoin (BC) or ether (ETH), in pairs with the U.S. dollar, providing a fiat gateway into the asset class. The platform also includes a staking facility for selected proof-of-stake (PoS) coins, which provide rewards for holders.

The exchange, which…

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