ZELF’s latest initiative will allow users to open up a U.S. dollar checking account with only their name, email, and phone number.
An anonymous Visa debit card from the American fintech company ZELF is now available for use at any of Visa’s 80 million global acceptance points. With ZELF’s most recent initiative, users won’t need to provide any paperwork, such as a social security number or proof of address, in order to open a U.S. dollar checking account.
Instead, they can do so with just their name, email, and phone number. The fintech business claims that potential customers may open a checking account and obtain an anonymous virtual debit card that is compatible with Apple and Google Pay in less than 30 seconds.
Account funding options for Visa debit card holders include conventional electronic payments, money and wire transfers, as well as cryptocurrency payments. Users can currently deposit USD Coin ($USDC $1.00), Tether ($USDT $1.00), and Ether ($ETH $1,287) into their checking accounts and debit cards.
By the end of the year, the company said, it will add 20 more well-liked tokens to its collection. The partnership between ZELF and Visa aims to give users’ privacy and security top priority when making cryptocurrency transactions.
Reducing the amount of verification needed, according to ZELF founder and CEO Elliot Goykhman, will draw in more clients and make financial services more accessible to the world’s unbanked population.
Despite being in a bear market, there has been an increase in the use of cryptocurrency-based payment methods, such as cryptocurrency cards, gift cards, and food delivery platforms.
When it comes to the adoption of cryptocurrencies and the expansion of crypto use cases, Visa seems to be playing a crucial role. Visa filed trademark applications in October, indicating that the company intends to increase its presence in the cryptocurrency ecosystem.
The company intends to manage digital, virtual, and cryptocurrency transactions as well as nonfungible tokens and virtual goods, according to its trademark applications.
On October 27, it was revealed that Visa and Blockchain.com had joined forces to offer cryptocurrency debit cards without sign-up or annual fees, as well as without any transaction fees. Users would also be able to earn 1% of all purchases back in cryptocurrency.
