The company it is joining Visa’s Fintech Fast Track program with the intention to release its payment card in early 2021. While the card will initially launch in the US only, ZenGo already plans to release it in other countries.
ZenGo is a non-custodial wallet, which means that users are in control of their crypto assets. As ZenGo has no idea what cryptocurrencies you own, you’ll have to convert your crypto to USD first. In the mobile app, you will be able to convert some funds to fiat (such as USD) and deposit that amount on your card.
Thus, anything that remains in your ZenGo wallet cannot be used with your card. Even if your card is compromised, your crypto assets remain safe, according to TechCrunch. ZenGo already lets you acquire cryptocurrencies in the app through partnerships with MoonPay and Coinmama.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now