The well-known crypto-exchange Coinbase, which is based in the United States, announced the launch of issuing Visa cryptocurrency debit cards for residents of six European countries. Recall that for the first time the company presented its payment card in April of the current year. At that time, only UK residents could receive Visa debit cards from Coinbase.
Now, besides Britain, the Coinbase debit card is available in Spain, Germany, France, Italy, Ireland and the Netherlands. According to Zheeshan Feroz, executive director of Coinbase UK, the card is directly linked to the accounts of the exchange’s clients. Thus, users of this payment instrument can pay for purchases with different cryptocurrencies.
Coinbase customers can pay for purchases, as well as withdraw cash from ATMs. So, when a person uses a card, the cryptocurrency is instantly converted into fiat money. In addition, the company released the Coinbase Card application, through which users can select cryptocurrency that they will use to replenish their debit card.
While the company does not disclose data on the exact number of users of the Coinbase Card, however, in the British division, they stressed that the first free 1000 cards dispersed as quickly as possible. Feroz added that Coinbase plans to issue a card in other markets as well, but first it needs to find suitable banking partners.