Eco Partners with Zero Hash to Offer USDC Financial Services to Clients | New

CHICAGO, Oct. 03, 2022 (GLOBE NEWSWIRE) — Eco, the consumer finance app that lets you spend, send, save and earn money all at once and is backed by investors like A16Z, today announced its partnership with Zero Hash to provide clients with USDC-powered financial services.

Zero Hash, the world’s leading B2B2C crypto-as-a-service infrastructure provider, takes the technology and regulatory complexities out of fiat-to-crypto conversions and provides the comprehensive building blocks to support USDC deposits and withdrawals , including Liquidity, Regulatory and Compliance Infrastructure.

Eco offers its users an innovative savings, checking and payment system. When a client deposits US dollars into the Eco app, Eco uses Zero Hash’s platform to exchange those US dollars for USDC on a 1:1 basis. Once a user’s US dollar deposit is settled, that USDC equivalent amount is deposited into an account in the client’s name at Zero Hash and displayed in their Eco app balance. When the end customer withdraws or spends money from their Eco account, the USDC balance is converted back to 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 via merchant gift cards. They can make deposits to their Eco Account from their external bank accounts via ACH or wire transfers, as well as directly from their employer’s payroll systems.

“Eco is a market innovator bringing new financial products to customers, and we are excited to power crypto products for innovative companies like Eco who are on a mission to deliver enhanced consumer experiences,” said Edward Woodford, CEO of Zero Hash. “Our turnkey solution for digital assets allows Eco to focus on creating quality products and experiences for its customers, launching them quickly and securely and with few regulatory constraints.”

“Zero Hash’s crypto-as-a-service infrastructure allows Eco to launch new features quickly and efficiently. Zero Hash will help us deliver on our promise to help users spend, send, and save money with market-leading rewards. Their commitment to innovation while maintaining regulatory compliance also supports Eco’s needs as we develop the world’s first open rewards currency. said Andy Bromberg, CEO of Eco.

The USD Coin (USDC), commonly referred to as a type of stablecoin, is a type of cryptocurrency designed to maintain price equivalence with the US dollar by holding $1 of high-quality fiat and/or liquid assets in reserve for each USDC in circulation. Launched in 2018 by global regulated fintech company Circle, there are currently over 50 billion USDC in circulation.

Eco users will need to register for USDC conversion services and Zero Hash terms to hold balances in USDC. Additionally, Zero Hash will not generate a return on USDC balances or pay back to those who sign up. All rewards on Eco Account balances and activity are paid by Eco and subject to its User Agreements.

About zero hashes

Zero Hash is a B2B2C integrated infrastructure platform that allows any platform to quickly and easily integrate digital assets natively into their own customer experience (a matter of API endpoints). Zero Hash’s turnkey solution handles all the complexity of the backend and regulatory licensing needed to offer crypto products.

Zero Hash Holdings, through its affiliates, enables neo-banks, brokers, payment groups, as well as non-financial brands to offer digital asset trading and custody, rewards and crypto roundups, and the ability to earn crypto via staking and DeFi.

Zero Hash Holdings is backed by investors including Point72 Ventures, Bain Capital Ventures and NYCA.

Zero Hash LLC is a FinCen-registered money services business and regulated fund issuer that can operate in 51 US jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to conduct business in virtual currency by the New York State Department of Financial Services.* In Canada, Zero Hash LLC is registered as a Money Services Business with FINTRAC. Zero Hash Australia is registered with DCE Registered Provider Number 100804170–001.

*Zero Hash services offered through Eco will not be available in New York or to New York customers.

About Eco

Eco is a digital wallet replacing checking and savings accounts, credit cards, etc., with a single balance that rewards you every time you save, spend or send your money and never charges a fee. Eco puts your money back to work for you by creating the first consumer fintech product whose creators are aligned with its users. The Eco app combines high-yield savings with rewarded spending in one easy-to-manage compound balance. Eco lets you pay your bills and put your financial life on autopilot. And through it all, unlike every other financial services company, Eco doesn’t get away from you.

This is only possible with Eco Points, a new open rewards currency. Eco Points allow our stakeholders (Eco, Eco App users and the Eco community) to line up to win together. Eco backers include a16z Crypto, Founders Fund, L Catterton, Activant Capital, Expa, Coinbase Ventures, Slow Ventures and over a hundred others.

To learn more, visit https://www.eco.com.

contacts

Zero hash

Edward Woodford

(855) 744-7333 Ext: 102

Edward@zerohash.com

Eco

Ryan Dicovitsky/Jeff Siegel

Dukas Linden Public Relations

Eco@DLPR.com

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