MovoCash, the creator of the mobile-payments platform and app Movo, has launched MovoChain, a web-based service that enables owners of bitcoin and bitcoin cash to easily convert those cryptocurrencies to ready-to-spend cash in an FDIC-insured prepaid account, according to a press release.

Palo Alto, California-based MovoCash said the service is available to anyone in the U.S. with an email address or phone number and claims funds become available in minutes.

"The popularity of cryptocurrency is on the rise, and until now, crypto owners have gone through a cumbersome process to convert it into currency to use in everyday transactions," Eric Solis, CEO of MovoCash said in the release. "MovoChain enables bitcoin/bitcoin cash value to be sent and loaded to Movo and then used at the point of sale via a real-time digital debit card which can be instantly provisioned to Apple Pay, Google Pay or Samsung Pay."

MovoCash did not give exact details in the release about how MovoCash works, or if there are costs associated with its use.