Visa issued this compliance memo on December 2. The memo cites that the financial giant is well-aware of the ongoing scheme practiced by cannabis merchants to conceal cannabis-related transactions. The memo explains that cashless ATMs are not meant to disburse cash to cardholders; instead, they are POS devices that should be used with payment applications that are similar to regular ATMs. The cashless devices are used for purchases that are falsely labeled as ATM cash withdrawals. Purchase amounts are frequently rounded up to simulate a cash disbursement.

Crypterium, the cryptocurrency wallet app with over 500,000 clients in over 170 countries, has partnered with the top-tier crypto custodian project Fireblocks to ensure the optimal security of users' funds.

The two companies will launch a technical integration in the near future — one that will increase users' security of funds, enhance the platform's quality of service, and streamline the input and output process of new coins.

This partnership enables Crypterium to harness the power of Fireblocks' multi-layer technology that combines the latest breakthroughs in MPC cryptography with hardware isolation that secures customer and investor funds from cyber-attacks, human error, and other issues. Such cryptography acts as insurance to cover assets during both transit and storage.

Fireblocks also offers an enterprise-grade infrastructure for handling digital assets, supporting over 800 tokens and 25 protocols. Such infrastructure integrated into Crypterium's services will assist in the platform's development and user growth.

“An important event for our users and the development of the Crypterium ecosystem. Our partnership enables diversification of risks, access to new opportunities in the crypto market. We are happy to have such a strong and reliable partner. Together we will provide increased security of user funds, improve the quality of service, and support the input-output of new coins in the near future,” said Crypterium CEO Vladimir Gorbunov.

“Fireblocks' MPC-CMP infrastructure will provide Crypterium's customers with unparalleled security while allowing for new products and services to be made available,” said Michael Shaulov, CEO of Fireblocks. “We look forward to growing alongside their community.” 

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About Crypterium

Crypterium Wallet puts together all the services you need, right where you need them. The wallet is available in over 170 countries. You can download Crypterium Wallet on iOS and Android devices, or access it with your desktop. Crypterium was the first company to develop a crypto-to-fiat payment card available in 180+ countries. The contactless, free Crypterium VISA Card gives every digital asset holder the possibility to pay instantly in over 42 million retailers worldwide, and withdraw in ATMs all across the globe. More info on https://crypterium.com

About Fireblocks

Fireblocks is an easy-to-use digital asset security platform that helps financial institutions protect digital assets from theft or hackers by using breakthrough MPC & patent-pending chip isolation technology to secure private keys, API credentials and eliminate the need for deposit addresses.

Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 600 financial institutions, has secured the transfer of over $1 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. 700+ customers, $1.7T assets transferred.

Hundreds of crypto and digital asset businesses are already using Fireblocks software and APIs to custody, manage treasury operations, access DeFi, mint & burn tokens, and manage digital asset operations.

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Crypterium team contact

pr@crypterium.com

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