CoinZoom Secures EU VASP License Boosting Crypto Card Adoption by 127%

CoinZoom, a U.S.-based fintech platform, has announced a significant milestone in its European expansion by securing a Virtual Asset Service Provider (VASP) license in Latvia. This achievement allows CoinZoom to operate and offer digital asset services across the European Union under a MiCA-aligned regulatory framework. The company has also initiated the formal application process for its full Markets in Crypto-Assets (MiCA) license, further solidifying its commitment to compliance and regulatory standards in Europe.

The VASP license is a crucial step for CoinZoom as it paves the way for the issuance of its Visa debit card to customers in the EU. This card enables seamless spending of both crypto and USD at over 130 million merchants and 1 million ATMs globally. Users of the CoinZoom Visa debit card can earn up to 5% back in crypto on every transaction, making it an attractive option for those looking to integrate cryptocurrency into their daily spending habits.

Since the international expansion of the CoinZoom Visa debit card in November 2024, the program has experienced remarkable growth, with a 127% increase in users across 48 countries. This growth highlights the increasing adoption of crypto for everyday purchases, with nearly 50% of users opting to spend crypto on items ranging from gas and groceries to airline tickets and hotel reservations. Users earn over $50 in crypto a month as free rewards for their spending, demonstrating the platform's appeal and utility.

Todd Crosland, Founder and CEO of CoinZoom, expressed his enthusiasm about the VASP license, stating, “We’re thrilled to have secured our European VASP license. This marks a pivotal step in our mission to provide regulated and secure services to customers throughout Europe. With our MiCA license application underway, we’re doubling down on compliance to offer European residents the full power of our platform—from crypto trading and free instant remittances to our industry-leading Visa card program.”

CoinZoom's expansion into the EU comes at a time of growing demand for compliant crypto services and digital payments infrastructure. This regulatory milestone positions CoinZoom as one of the few U.S.-based financial platforms to hold both U.S. regulatory approvals and a European VASP license, setting it up for global growth. The CoinZoom Visa Debit Card is currently available in over 150 countries, further expanding its reach and accessibility.

CoinZoom is a U.S.-based financial platform that enables users to send, spend, save, and invest without barriers. The platform offers flexible funding options, including Apple and Google Pay, debit and credit cards, and instant cash deposits at multiple retail locations in the U.S. Its unique international peer-to-peer payment system, ZoomMe, is part of its cash-to-crypto ecosystem, allowing customers in 169 countries to deposit and send cash or crypto globally for free, saving millions of dollars in remittance fees. The CoinZoom Crypto Debit card provides flexibility in spending by allowing users to spend in USD or crypto at over 130 million merchants globally while earning up to 5% back in crypto on each purchase. The platform is built with a multi-layered security approach, and the team's decades of experience in financial technology security are crucial in safeguarding customer funds and personal information. CoinZoom is a U.S. registered Money Services Business with FinCen and holds a SOC2 Type II Certification, which is highly regarded as the most rigorous test for the trustworthiness of a company’s processes, best practices, and diligence around securing customer data. CoinZoom is also a U.S. registered Money Transmitter, available for trading in 46 states and has subsidiaries in Australia and Ireland. CoinZoom Australia PTY LTD is registered as a Digital Currency Exchange with AUSTRAC.