Crypto exchange Coinbase has expanded its Visa debit card service in six European countries – Spain, Germany, France, Italy, Ireland, and the Netherlands.
According to a June 11 CNBC report, the card will allow Coinbase customers to spend digital assets including Bitcoin, Ethereum, and Litecoin directly from their exchange wallets while making both online and offline transactions.
Though by default the card comes in the Coinbase mobile app, users can also opt for a contactless physical card. It can be used to withdraw fiats from ATMs as well.
The users also get the option to chose their desired cryptocurrency while making a transaction.
The report also detailed that the exchange will convert the crypto into fiat while paying the retailers and will change a conversion fee from the customers.
CAPEX.com Raises $21 Million in New Funding RoundGo to article >>
The exchange introduced the same service in the United Kingdom in April. Though in an interview with CNBC, Coinbase UK CEO Zeeshan Feroz did not disclose the exact number of customers it signed up in the UK, he mentioned that the company “blew past” the initial 1,000 cards it offered users for free.
Easing payment mode
Credit and debit card payment services are becoming the norm in the crypto industry. To ease the process of payments, many crypto companies are introducing card payment services. Simplex is one such company which is riding on this trend.
The fintech company partnered with major companies like Binance, Huobi, Trade.io, and Liquid to enable fiat deposits using debit and credit cards.
Expanding business in untapped markets
After becoming a major player in the crypto trading industry, Coinbase is now focusing on international expansion and other crypto-related services. Last month, Finance Magnates reported that the exchange’s crypto custody service has added 70 institutional clients.
The San Francisco-headquartered exchange also recently expanded its earn program to more than 100 countries.