Coinbase customers in the US and EU can now use Visa debit cards to quickly deposit funds into their crypto accounts thanks to a new partnership, according to an announcement Tuesday.
Millions have already linked their debit cards to platforms like Coinbase, but until now, fund availability for trading faced a notable delay. This update aims to eliminate those wait times, offering a faster and more efficient way to handle transactions.
While the traditional financial system and the blockchain world are seen as separate entities, this new integration with Visa Direct aims to blur those lines. Visa’s tech allows for near-instantaneous money movement, which means less time waiting for funds to clear and more time capitalizing on market movements.
Visa Direct Powers Instant Trading and Withdrawals on Coinbase via Debit Cards
Yanilsa Gonzalez Ore, Visa Direct’s Head for North America, highlighted the move’s significance, saying customers can now seize trading opportunities around the clock.
Further, with this feature, users can buy cryptocurrencies on Coinbase directly with their Visa debit card. This removes the typical delay for these transactions. Additionally, they can cash out from Coinbase to their bank account using the same eligible Visa debit card.
This feature improves the Coinbase user experience. Notably, in the US, the exchange offers a Coinbase Visa debit card, which connects crypto spending to everyday financial use. It enables users to spend cryptocurrencies wherever Visa is accepted.
Visa’s Crypto Partnerships Enable Users to Pay with Digital Assets at Millions of Merchants
Another Coinbase Visa Card to pay in-store and online is offered in the UK. Recently, Avalanche introduced a Visa card, allowing its users to conduct transactions at any Visa-accepting merchant.
Further, Visa has established partnerships with over 50 crypto entities to launch card programs. These programs allow users to convert their digital currencies into usable funds. With these cards, individuals can spend at around 70m merchant outlets worldwide.
Visa’s primary aim with these alliances is to make cryptocurrencies more practical for everyday use, integrating them into conventional shopping experiences.
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