The startup said that during its beta phase, it collected valuable feedback from its users, adding that it is now ready to fully launch the platform to the public. Since its beta launch, Coinizy has been focusing on making the conversion from Bitcoin to fiat as convenient as possible. It supports Western Union, PayPal, and various debit card withdrawal options for all of their users.
“I am happy to announce that today, after four months of public testing, Coinizy is moving on from Beta. Our platform enables you to convert your bitcoins and ethers into US Dollars, that you can then withdraw to PayPal and Western Union, as well as our range of virtual and plastic VISA Debit Cards”, said Coinizy CEO Yannick Losbar.
Besides fully launching its services, Coinizy also announced the launch of the Ethereum debit card, which would allow any Ethereum holder to spend cryptocurrency wherever credit cards are accepted.
Although, it not currently possible to fund an Ethereum debit card with a smart contract directly, the Coinizy team is working on an API to facilitate such transfers. In addition, such an API could act as a gateway for other users to spend Ether, even when the recipient doesn’t directly accept cryptocurrency payments.
Coinizy seeks to offer an Ether payment gateway which can be used to query, pay for, load, and use the instance-issuance virtual Visa debit card in an automated fashion.
“While the Ethereum founders probably didn’t envision their crypto-currency to be a store of value, the impressive volumes exchanged each day on traditional and trading-oriented platforms despite the lack of clear consumer-oriented applications revealed a real market interest. We are also seeing a proportion of Bitcoins holders who are shifting towards Ethereum since they are increasingly preoccupied about the possible depreciation of their assets the Block Size debate is likely to cause”, said Losbar.