Zamzam and Mycelium Announced Cooperation

Sep 18, 2018 at 15:24 // PR
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Zamzam blockchain bank and Mycelium payment system have agreed on joint production of a hardware storage wallet in the form of a smart card integrated with Zamzam mobile banking and acquiring system.

The agreement between Zamzam and Mycelium facilitates several stages of cooperation. At the initial stage, Zamzam users will be able to use smart cards to store digital currencies upon its synchronization with their mobile wallets. At the following stage, Zamzam users are expected to be able to pay for goods and services at those locations where Zamzam acquiring system is installed.

Over the long term, Zamzam intends to obtain a Electronic Money Institution (EMI) license in Luxembourg, which will allow Zamzam users to store both digital currency and fiat money on their smart cards.

The implementation and distribution process will involve two stages:

1. Launch of production of Zamzam smart cards;

2. Widespread implementation of Zamzam acquiring system.

The cooperation with Mycelium will allow Zamzam to solve one of the pressing problems hindering the introduction of blockchain technologies in everyday life, that is, the opportunity to use digital currencies in payment for goods and services.

One of the distinctive features of a smart card is its independence of third-party payment systems such as SWIFT, Visa, or MasterCard. It is a fully independent, secure, and convenient wallet for decentralized storage of digital currencies.

Mycelium is an established player and one of the leaders in the bitcoin wallet market. It has gained the trust of more than 200,000 users. Like Zamzam, Mycelium team states that its mission is to extend the audience of digital currency users and improve ease of digital currencies use.

Zamzam is a blockchain bank that opens fairness and transparency of the cryptocurrency market to small and medium businesses and to the 30% of the world's population who do not have the opportunity to open a bank account or do not trust traditional banks. The blockchain bank enables one to transfer digital currencies by a recipient's’ phone number as well as to open a business cryptocurrency account with Zamzam.

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