Neobank MovoCash launches real-time cryptocurrency conversion
California-based neobank MovoCash have announced the launch of MOVO Chain by MOVO. This technology is a cryptocurrency-to-cash (C2C) and peer-to-peer (P2P2P®) interoperability solution that upends cryptocurrency sending and spending by using a patent-pending blockchain solution to quickly convert stored value held in cryptocurrency into fiat currency (United States Dollar) in the form of P2P2P® digital cash tokens on a debit card.
“MOVO Chain® provides crypto to USD hybrid systems to create off-ramps for crypto users to be able to send it to others, spend, and have it land on a Debit Mastercard® for everyday living expenses,” said Eric Solis, CEO and Founder of MovoCash, Inc. “We see this as a tremendous opportunity that uses Bitcoin and Fiat currency hybrid to bridge the traditional saving and checking model. With MOVO Chain®, consumers can use Bitcoin and other major cryptocurrencies as their long-term savings and Fiat for their day-to-day payments.”
“We are proud to partner with MOVO who continues to deliver innovative and frictionless payment options in this rapidly growing industry,” said Eric Sprink, President and CEO of Coastal Community Bank. “MOVO Chain equips MOVO customers with a one-of-a-kind solution that enables them to convert and send cash value from their bitcoin or other cryptocurrency holdings, seamlessly.”
Cryptocurrency users located in the United States can convert and send/spend cash value via debit card to anyone with an email address or mobile number. This one-of-a-kind solution creates a hybrid model that gives users spendable crypto.