Cryptocurrency specialist ZenGo has announced that it has joined payment giant Visa’s Fast Track program, allowing for better integration between the two companies. The partnership also paves the way for the two companies to develop a co-branded payment card that will enable ZenGo customers to spend their digital currencies offline with retailers, while also giving them access to the reach, capabilities and security offered by Visa.
“This is an important step forward in our quest to make crypto-currency useful and usable by everyone,” said Ouriel Ohayon, CEO of ZenGo. “Payment is one of the most important and underserved needs of our industry and we are excited to work with Visa on this.”
ZenGo uses biometric authentication in the form of facial recognition — which is provided by biometric technology company FaceTec — to secure its customers digital wallets, which are multi-currency capable.
“As the preferred network for digital currency wallets, we are excited to help innovative fintechs like ZenGo harness the value of Visa’s network,” said Cuy Sheffield, Head of Crypto at Visa. “Through the Fast Track program, we can support ZenGo with access to Visa’s experts, technology, and resources to scale with efficiency.”
Earlier this year, ZenGo found itself having to defend the effectiveness of its authentication system following claims on social media from a rival cryptocurrency wallet CEO that it could be fooled by a photograph.
In a post on the company blog titled “Can pictures break ZenGo’s biometrics security?”, Ohayon demonstrated the system’s liveness detection capabilities when confronted with photographs and even a custom-made hyperrealistic silicone and rubber masks.