US fintech firm ZELF has launched an anonymous Visa debit card which can be funded through crypto or traditional electronic payments.
To open an account, all users need is a name, email, and phone number before they can use the card at any of Visa’s 80 million payment locations worldwide.
Accounts can be funded through crypto payments, with current support for three tokens (USD Coin, Tether, and Ether). ZELF has said they plan to add support for 20 more popular tokens before the end of the year.
Users can also make traditional electronic payments or use money and wire transfers.
The anonymous card saves US customers from having to provide a social security number or proof of address to open a checking account with a bank.
According to ZELF, the account can be opened and set up to work with Apple Pay and Google Pay within 30 seconds.
The collaboration with Visa places a priority on privacy and security for users looking to make purchases with crypto.
Ellit Goykhman, ZELF’s founder and CEO, said that reducing verification requirements is key to attracting more customers to crypto and helping people without bank accounts gain access to financial services.
Even in the midst of a bear market, a wide range of crypto payment methods, from crypto gift cards to crypto food delivery sites, have seen increased adoption
Visa has been a major player in the crypto payments space for some time now, working towards increasing crypto adoption globally.
In October, the company filed two trademark applications showcasing its intentions to manage digital assets, NFTs and metaverse environments.
That same month, Visa partnered with centralised exchange Blockchain.com on a crypto debit card with no sign-up or transaction fees that lets users earn 1% cashback on all purchases in crypto.
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