ZoomMe, are intricately linked to the ZOOM utility token at the heart of its real-world spending feature and are both the Visa debit card and its global peer-to-peer payment system.
To be rolled out in Europe over the summer, the CoinZoom Visa card is available in the U.S. now. Allowing them to spend crypto — which is instantly converted to dollars at the point of sale — at Visa’s 53 million merchants. A merchant gateway allowing retailers to accept cryptocurrencies directly is also forthcoming.
The card comes in five levels beginning at Select and topping out at Black. These offer a number of rewards to anyone holding the required number of Zoom tokens — from 1,000 at Select to 100,000 at Black — starting with 1% to 5% cashback, while available to anyone. The four higher-level cards offer trading fee discounts of 10% to 50%, and the three highest have access to airdrop rewards.
Another unusual CoinZoom offering is the ZoomMe money transfer service, which sends funds in the form of ZOOM tokens. The service is somewhat similar to PayPal and remittance services except that it does not charge fees. There are daily limits based on the five card levels, beginning at $500 and rising to $50,000.
ZOOM is an Ethereum-based ERC-20 token, with a total supply of 600 million. Of those, half are earmarked for purchase by community members using its various debit-card rewards programs, and for staking. Another 30% goes to community rewards and 20% to the development team.