One of the lingering issues that has plagued cryptocurrency enthusiasts has been the limited options for spending their investments in Ethereum, Bitcoin, and hundreds of other digital currencies. With significant time and technological power required for most crypto transactions, potential investors may be dissuaded from putting their money into funds that are difficult to access, much less use for daily purchases.
All that is about to change thanks to fintech startup ZELF’s latest offering: a debit card linked to a checking account that requires no more information than a name, email address, and phone number. In a unique digital-first move, the ZELF Visa-branded card can be funded not only through traditional electronic money transfers, but also through crypto payments. As explained by the company’s Founder and Chief Executive Officer, Elliot Goykhman, the new card will not only be a step in the direction of everyday crypto functionality, it will benefit the world’s most vulnerable populations who might otherwise be shut out of financial independence.
“Making verification mandatory only upon reaching certain thresholds, we also attract customers who are currently unbanked due to inability to pass verification at incumbent banks,” said Goykhman in a press release announcing the new card, “including international digital nomads, migrant workers, and refugees.”