Edinburgh-based crypto wallet and payments platform Zumo has appointed two advisors as it seeks out tech action in the competitive Web3 arena.
James Chadwick has been hired as advisor to the Zumo board. Previously CEO in Singapore for GroupM, a media investment company. He also worked at Facebook between 2012 and 2019, where he led the international marketing team. Chadwick is well aware of Web3 as he’s a founding member of Proof Collective, a group of 1,000 NFT collectors and artists.
In addition, Jeff Carvalho has been brought in and will advise Zumo on brand placement within a “rapidly-evolving” technology framework, with a focus on storytelling, strategy and product development. Carvalho has plenty of experience as he is part of a Web3 tech project called Burrata.
Carvalho explains: “To interact with, and reap the true reward of all the technology Web3 is going to bring, we’re all going to need a wallet, a product and underpinning infrastructure that works instantly and seamlessly.”
Nick Jones, Co-Founder and CEO, Zumo, adds: “As crypto, DeFi and NFTs increasingly capture hearts and minds, they will help us to provide the products that will enable people crying out for a fairer economy to regain control over their financial futures.”
Zumo – which featured in our ‘Eight Fintech Companies in Edinburgh to Watch’ – plans to launch a range of new products and services, including access to NFT marketplaces. There are no specifics beyond that, but its intentions are clear enough.
As eWeek UK discussed today (10 February), many businesses and celebrities have hopped into the NFT market, from McDonald’s to Eminem. The feature ‘Hype, Uncertainty and Hope: Are NFTs Right for Your Business?’ looks at the subject in detail.
NFTs’ history is inextricably linked to that of cryptocurrency and the blockchain. NFTs use blockchain technology, and most NFTs are stored on popular crypto chains like Ethereum.
Zumo currently offers a cryptocurrency wallet that allows users to buy, sell, store, send and spend cryptocurrencies alongside traditional British Pounds.
It also provides ZumoKit, a B2B Crypto as a Service platform, which allows fintechs and financial institutions to go to market and offer their users the capability to hold, buy and sell digital currencies.
The Scottish fintech firm has been doing pretty well. Its customer base has grown 25% month-on-month since the platform launched in August 2020, with 43% of its users from Gen Z (18-24).
Founded in 2017 by Jones and Paul Roach, Zumo’s staff are based in locations across Scotland, London and Slovenia.
Last month, eWeek UK published an ‘Inspiring Women in Fintech’ interview with Amélie Arras, Marketing Director at Zumo. She discussed travels via Bitcoin, superb jugglers, mentorship programmes and more.
