Until 5th September, the Edinburgh-based firm will be running a Refer and Share programme, offering £100,000 in Bitcoin SV to new users through its cryptocurrency app.

To be eligible, users can join themselves or refer a friend. Users can be referred by signing up on the app with shared unique codes.

There are no limits on the numbers of referrals allowed, with every sixth referral gaining an extra BSV bonus. Additional BSV awards will be given to those ranking at the top of the Zumo Refer and Share Leaderboard.

All users must be UK residents and have passed ID verification checks.

Zumo provides users with some of the services of traditional banks, offering a convertible debit card which can be used anywhere that accepts Visa.

Unlike traditional banks, however, Zumo has no access to user funds.

Amelie Arras, Marketing Director at the Edinburgh-based firm, said: “We passionately believe that crypto is for everyone; this is our way of offering people a super simple way to get comfortable with crypto without needing to put up any of their own money.

“With Scottish summer in full swing, we’re saying to people: why not share Zumo with friends to earn yourself some smart money and, who knows, maybe fund a few of those post-lockdown drinks!”

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This is the second time that the Scottish crypto firm has run its Refer and Share programme.

The first campaign, launched in October 2020, brought 20,000 new users to the app.

According to statistics released by the FCA in 2019, it is estimated that there are 1.3 million unbanked adults in the UK.

Zumo founders Nick Jones and Paul Roach set up the app in 2017 with the intention to provide more people with access to financial services.

The organisation is a member of CryptoUK. In June 2021, Zumo became one of the early signatories of the Crypto Climate Accord, which saw it pledge a commitment to achieving net-zero emissions from crypto-related energy consumption by 2030.

Zumo also supports WasteAid, a charity that aims to improve global waste management, and is a signatory of the UN Global Compact.