Coinbase Customers Can Now Spend Bitcoins, Ethers And XRP Wherever Visa Cards Are Accepted

Coinbase will start issuing its own debit cards that will be accepted around the world. The American cryptocurrency exchange giant has joined the list of Visa partners and thus became “the first pure-play cryptocurrency company” to be granted Visa principal membership, the announcement reads.

The new Coinbase Card will allow customers in the European Union or European Community to spend a line-up of cryptocurrencies, including bitcoin, bitcoin cash, ethereum, litecoin, and XRP. While the card itself can be used globally, it cannot be ordered by people residing outside of the supported countries.

One more important advantage of Principal Member status is that Coinbase gets the right to issue debit cards to other companies, including other cryptocurrency companies, which may become an additional source of income.

The company’s collaboration with Visa began in 2019 when they launched a Visa Coinbase Card in the UK that allowed customers to spend crypto as easily as the money in their bank account. Before that, in 2015, Coinbase supported the Shift crypto card, which drew funds from the user’s exchange balance. Now, nine months later, Coinbase Card is available to customers who can spend 10 cryptocurrencies in 29 European markets.

The new 2020 card is supported by Paysafe Financial Services Ltd., the company behind such products as Skrill and PaysafeCard. It was not revealed when or how the transition to Coinbase-issued cards will take place.

Coinbase UK CEO Zeeshan Feroz said in an interview with Forbes that cryptocurrency assets were not liquid before, and had to be converted, and payments were not instant. Now, tokens can be spent in real time to pay for goods and services, regardless of whether the seller accepts cryptocurrency.

Coinbase aims to continue developing its relationship with Visa via introducing additional services and supporting more markets, and launching other initiatives that make interacting with crypto as seamless as possible for their customers.

Related News

Ookla Rolls Out a VPN In Its Speedtest App

Ookla, one of the most popular network speed testing services, is expanding into the virtual private network space with the launch of its new mobile VPN. Speedtest, the company’s flagship service, is one of the most accurate

Read-more

Asura World – self-sustainable eSports platform, ICO coming soon

The eSports industry is reported to be worth $1.5 billion in 2017 and could be worth $2.4 billion by 2020, it is a huge market. Big money translates

Read-more

Refereum aims to democratize gaming industry, profiting gamers, not corporations

Refereum is a decentralized referral-based gaming marketplace built on blockchain that promises to pay you and

Read-more

MyDFS to change how daily fantasy sports are played, token sale live

With the number of fantasy sports players in North America heading past 60 million, and the industry said to be worth more than $7 billion,

Read-more