CoinZoom has announced its acquisition of a VASP license, unlocking new opportunities for its operations in the European market.
VASP License Acquisition
CoinZoom, a US-based fintech platform, announced that it has obtained a Virtual Asset Service Provider (VASP) license in Latvia. This development allows the company to offer its services across the European Union under MiCA regulatory standards.
Benefits and Services of CoinZoom
With the VASP license, CoinZoom will provide users with the ability to use its Visa debit card in Europe, enabling transactions in both cryptocurrency and USD at over 130 million merchant locations. Users can earn up to 5% back in cryptocurrency on every transaction. Since the international expansion of the CoinZoom Visa debit card in November 2024, the number of users has grown by 127%.
Future Plans and Analysis
The company has also initiated the application process for a full Markets in Crypto-Assets (MiCA) license, which will allow it to expand its offerings in Europe. CoinZoom's founder and CEO, Todd Crosland, emphasized the significance of this step and the company's commitment to regulatory compliance while enhancing its services in the European market.
The acquisition of the VASP license marks a significant achievement for CoinZoom, opening a new chapter in its operations in Europe and enhancing potential opportunities for users.
