Coinbase on Wednesday launched a VISA debit card, allowing clients based in the United Kingdom to use digital currencies stored in their exchange accounts in day-to-day transactions like paying in-store on a point-of-sale (PoS) or online. The card, called Coinbase Card, was announced in a blog post published on April 10.
Like any other Visa card, Coinbase Card will be accepted by all Visa-supported merchants around the globe, as well as allow customers to withdraw fiat using ATMs.
“To help customers manage their spend, we’ve also launched the Coinbase Card app, which enables customers to select which of their crypto wallets they will use to fund their Coinbase Card spending,” Coinbase noted. “Coinbase Card supports all crypto assets available to buy and sell on the Coinbase platform, meaning they can pay for a meal with Bitcoin, or use Ethereum to fund their train ticket home.”
Coinbase has partnered with FCA-registered Paysafe Financial Services Limited for the issuance of the payment cards.
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USD trading in Europe
The San Francisco-headquartered exchange is also bolstering its moves to capture the European market.
In the same April 10 blog post, Coinbase also announced the introduction of USD trading pairs for its professional platform clients based in Europe. The exchange believes that this will provide Coinbase Pro and Prime customers with “deepest pools of liquidity for USD to crypto trading” available through their USD books.
The digital asset exchange is also gearing up its offerings by adding more coins on its platform. Finance Magnates recently reported that Coinbase had added three new altcoins – EOS, Augers’ REP, and MKR – on Coinbase Pro following the addition of XLM and XRP. It later extended its XRP trading support for retail customers as well.
Earlier this month, the California-based exchange revealed that it had bought insurance coverage of up to $255 million to protect its customers’ funds kept on its hot wallet platforms.