Asia-Pacific crypto-fiat trading platform Zipmex has forged a strategic partnership with Visa in a bid to improve the convenience of its payment programs and products. The platform's payment network ZipSend, designed to enable users to spend their crypto, will be integrated into Visa’s worldwide network of 70 million merchants. Following the partnership, Zipmex aims to release a Visa-branded payment card later this year. Zipmex, which has compliant operations in Thailand, Indonesia, Singapore and Australia, currently has a user base of over 200,000 and has reported over $1 billion in gross transaction volume since its launch in late 2019. The company …

Traditional card networks are vying to ensure their services remain at the center of new developments in digital assets, whether they be central bank digital currencies (CBDCs) or private sector stablecoins. In an earnings call on Thursday, Mastercard CEO Michael Miebach discussed recent developments in crypto and CBDCs, making the pitch that the company was well-positioned to remain a linchpin of intra- and international value flows: "What we believe we do is bring a perspective to the market as a multi-rail payment provider. We have to be in this space because people are looking for answers." Mastercard has been highly …

This year has seen unprecedented growth in the crypto markets, with lucrative knock-on effects for third parties like Visa. This, however, may already be beginning to dwindle, according to the company’s senior executives. The payments giant’s newly released financial results for fiscal Q3 2021 show bullish figures for cross-border and overseas transactions — a key metric for analysts on the lookout for early signals of pandemic recovery. Earlier this month, Visa revealed that its crypto-enabled cards had processed more than $1 billion in total spending for H1 2021, registering an impact on overseas volume as crypto users deposited funds into …

Visa officially announced on Thursday that it had signed a definitive agreement to acquire Currencycloud, a fintech platform supporting about 500 banking and technology clients across more than 180 countries. The new acquisition aims to improve Visa’s foreign exchange business and expand them to serve financial institutions, fintechs and partners. The deal will specifically improve Visa’s payment transparency and speed, the company’s global treasurer Colleen Ostrowski said, stating: “The acquisition of Currencycloud is another example of Visa executing on our network of networks strategy to facilitate global money movement. Consumers and businesses increasingly expect transparency, speed and simplicity when making …

A crypto exchange has launched a new tool that pays interest on dozens of cryptocurrencies. CoinZoom says it is striving to be more than a crypto exchange for its customers — delivering an environment where they can invest and spend their assets, and watch them grow. The new feature, which is called CoinZoom Earn, is being rolled out in the coming weeks. No fees are charged when crypto balances are transferred to this tool. Interest is accrued daily and compounds on a monthly basis — with interest payments set to be made regularly. These returns can either be redeemed, reinvested …

Global payment giant Visa is moving forward with its commitment to digital currency adoption by approving the issuance of a new Bitcoin (BTC) debit card in Australia. Sydney-based crypto spending app CryptoSpend announced Wednesday that Visa has approved the issuance of a physical debit card that will allow Australians to spend their Bitcoin at local merchants. CryptoSpend co-founders said in an interview with the Australian Financial Review that the new card will be issued by major local payments company Novatti and is expected to hit the market in September. Visa is expected to announce the approval later this week. According …

Global payments giant Visa will continue to support the development and adoption of the cryptocurrency industry as part of its business, the company said in its latest crypto update. In an official statement on Wednesday, Visa announced that its crypto-enabled cards processed more than $1 billion in total spending in the first half of 2021. The company noted that Visa is partnering with 50 major companies in the crypto industry as well as crypto card programs enabling users to convert and spend digital currency at 70 million merchants worldwide. Given the size of spending on Visa crypto-linked cards, the company …

Intercontinental Exchange subsidiary Bakkt has introduced a debit card allowing customers to use crypto for retail purchases. In a Tuesday announcement, Bakkt said it had launched a fully virtual Visa debit card for both online and in-store spending. Card holders can spend Bitcoin (BTC) from their Bakkt accounts without waiting to convert the cryptocurrency to fiat. “Imagine a Bitcoin user who sees a significant gain,” said Bakkt CEO Gavin Michael. “Now, instead of selling and waiting to transfer to a bank, they can simply walk into their favorite store, tap their Bakkt Card and buy that new item they’ve been …

As blockchain technology and the public's awareness of cryptocurrency continues to grow, a range of new use cases a coming to market and enhancing the efficacy of legacy financial systems. Despite its many applications, the original use case for Bitcoin (BTC) as a medium of exchange remains one of the most fundamental applications of blockchain technology and while BTC might not be the best asset to use for payments, there are service providers who have eased the process of settling transactions in other cryptocurrencies. For now, the most widely accepted way to use cryptocurrencies for direct payments in everyday life …

Major American cryptocurrency exchange Gemini now lets its users purchase cryptocurrencies like Bitcoin (BTC) with Apple Pay and Google Pay. According to a Thursday announcement, Gemini users can now connect their debit cards to Apple Pay or Google Pay for buying crypto with fiat on the platform. The firm noted that user funds will be available to withdraw one hour after a purchase was made. The new feature is available for over 30 cryptocurrencies supported on Gemini, including major coins like BTC, Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), as well as Ethereum-based tokens like AAVE and Maker's MKR. …

Cashback rewards for purchases have long been a popular tactic used by banks and credit card companies to entice consumers to use their services. Several cryptocurrency companies like BlockFi and Coinbase have revealed future plans to offer cryptocurrency-backed debit and credit cards that offer cashback rewards in Bitcoin and StormX (STMX) has joined the crowd. StormX (STMX) is a gamified marketplace that allows users to earn STMX as well as other cryptocurrencies for shopping at one of its online network partner stores or by completing micro-tasks through its app. Data from Cointelegraph Markets and TradingView shows that the price of …

The Bahamas is moving to make its national digital currency more accessible by launching a prepaid card for the “sand dollar.” The Central Bank of The Bahamas has partnered with global payment giant Mastercard and local payment startup Island Pay to create a card that supports the sand dollar central bank digital currency. According to a Wednesday announcement, the card is running under a new program from Mastercard and Island Pay, allowing users to convert the digital currency to traditional Bahamian dollars and pay for goods and services. The new card will be accepted for payments across the Caribbean region …