Edinburgh-based cryptocurrency wallet and payment platform Zumo has introduced a virtual Visa debit card, allowing users to spend cryptocurrencies seamlessly. This innovation bridges the gap between digital assets and everyday purchases, enabling crypto-to-fiat conversions for online transactions.
Key Features of Zumo’s Virtual Card
- Visa Acceptance: Works with any online retailer that accepts Visa.
- Crypto-to-Fiat Conversion: Supports instant conversion of Bitcoin (BTC) and Ether (ETH) to GBP.
- Non-Custodial Wallet: Users retain full control of their funds (first in the market to offer GBP wallet integration).
- Future Physical Card: A contactless debit card for in-store payments is slated for release later this year.
How It Works
Zumo’s partnership with Modulr, a digital payments platform, provides the underlying infrastructure for secure transactions. The virtual card simplifies spending crypto by auto-converting holdings to GBP at the point of sale.
👉 Learn how to maximize crypto spending with Zumo’s Visa card
Why This Matters
- Mainstream Adoption: The card’s familiarity helps onboard new users to cryptocurrencies.
- Convenience: Combines crypto flexibility with traditional payment methods.
- Growth Timing: Launched amid rising crypto adoption and increased online shopping trends.
Founder’s Perspective
Nick Jones, Zumo co-founder, stated:
"Our virtual card accelerates crypto comfortability. Users can now buy, hold, exchange, and spend—all within the Zumo app. This merges traditional money with the future of smart money."
Zumo’s Growth and Funding
- Founded: 2018 by Paul Roach and Nick Jones.
- Patent-Pending Tech: Available via Zumo App (consumer) and ZumoKit (business).
Recent Investments:
- £500,000 from Ilya Fund (2021).
- £1.1M seed round (2020) backed by Coldplay’s Guy Berryman and Scottish Investment Bank.
FAQ Section
Q: Can I use Zumo’s card internationally?
A: Yes, wherever Visa is accepted—converting crypto to GBP for transactions.
Q: Which cryptocurrencies are supported?
A: Currently BTC and ETH, with potential expansions.
Q: Are there fees for conversions?
A: Fees apply per transaction; check Zumo’s app for details.
Q: When will the physical card launch?
A: Expected later this year—stay updated via Zumo’s official channels.
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