Photo credit: ZenGo

Zengo, a popular cryptocurrency wallet app, has unveiled a new cryptocurrency debit card that it’ll launch first in the United States. The new debit card will be powered by Visa’s payments network and will enable ZenGo users to make payments directly from their crypto wallets. The card will be tied to ZenGo’s self-hosted multi-currency crypto wallet and will first launch in the US before planned expansion into other countries.

ZenGo is joining Visa’s Fintech Fast Track program to facilitate the release of its newly unveiled debit card by early next year. With the card, users will be able to convert their cryptocurrency to the US dollar and make digital purchases. 

ZenGo is a self-hosted crypto wallet, something that sets it apart given that users are on the hook to ensure their security. Given that, users will have to convert their desired amount of crypto to US dollars on the ZenGo mobile app in order to spend that particular amount using the card. This is unlike Coinbase, which recently unveiled its own US debit card where users can spend directly from their accounts and get their cryptocurrency automatically converted for them. Coinbase is a centralized exchange and not a decentralized one like ZenGo so it’s expected. 

A waitlist for ZenGo’s new debit card has been opened. 

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