Eco, the consumer finance app that lets you spend, send, save, and make money at the same time and is backed by investors including A16Z, announced it has partnered with Zero Hash to offer USDC-powered financial services to customers. Zero Hash, the leading global B2B2C crypto-as-a-service infrastructure provider, abstracts away the technological and regulatory complexities of fiat–to-crypto conversions and provides the complete building blocks for supporting USDC deposits and withdrawals, including liquidity and regulatory and compliance infrastructure.
Read Fintech Interviews: Global Fintech Interview with Jitin Bhasin, Founder & CEO at SaveIN
Eco offers its users an innovative system of savings, checking, and payments. When a customer deposits US Dollars into the Eco app, Eco leverages Zero Hash’s platform to exchange those US Dollars for USDC on a 1:1 basis. Once a user’s US Dollar deposit settles, that equivalent amount of USDC is deposited into an account in the customer’s name at Zero Hash and shown in their Eco app balance. When the end-customer withdraws or spends money from their Eco account, the USDC balance is exchanged back into US Dollars for withdrawal to the end-customer’s bank account or payment to a third party, as applicable. Additionally, Eco users can use their Eco debit card to spend their USDC at merchant stores, pay bills, and through merchant gift cards. They can make deposits to their Eco account from their external bank accounts through ACH or wires and also directly from their employer’s payroll systems.
“Eco is a market innovator in offering new financial products to customers, and we are pleased to power crypto products for innovative companies such as Eco that are on a mission to provide improved experiences for consumers,” said Edward Woodford, CEO of Zero Hash. “Our turnkey solution for digital assets allows Eco to focus on building great products and experiences for their customers, launching quickly and securely and with little regulatory burden.” “Zero Hash’s crypto-as-a-service infrastructure allows Eco to launch new features quickly and effectively. Zero Hash will help us make good on our promise to help users spend, send and save money with market-leading rewards. Their commitment to innovation while maintaining regulatory compliance also suits Eco’s needs as we scale the world’s first open rewards currency.” said Andy Bromberg, CEO of Eco.
Read: RAC Deploys Earnix Suite To Unlock Efficiencies And Innovation
[To share your insights with us, please write to sghosh@martechseries.com]
