Coinbase announces launch of Visa-powered Coinbase Card

New Coinbase Card Launches as a Visa Debit Card for Cryptocurrency in Both UK and EU

New Coinbase Card Launches as a Visa Debit Card for Cryptocurrency in Both UK and EU

It is now only available to customers in the United Kingdom.

"Thanks to the launch of the new Coinbase Card, in partnership with Paysafe, customers now have greater flexibility and control over how they spend their crypto, and the ability to realise its value to buy tangible things or experiences".

The San Francisco-based firm announced the news in a blog post on Wednesday, saying that with the "Coinbase Card", customers will be able to spend their bitcoin (BTC), ether (ETH), litecoin (LTC) and other cryptocurrencies "as effortlessly as the money in their bank".

Coinbase announced a new Visa debit card for its United Kingdom and European Union (EU) customers that lets them easily spend any of the crypto balances in their Coinbase account for paying for goods/services anywhere that Visa is accepted or for making cash withdrawals from ATMs.

Anyone with XRP and other supported crypto balance in their Coinbase account can instantly pay for their meals and other services directly through Coibase's VISA debit card.

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Indeed, it's fair to say Coinbase has weathered its fair share of criticism in recent months, but all in all, it'd be interesting to see how much uptake this new product - which seeks to simplify real-world cryptocurrency purchases - has among Coinbase's United Kingdom customers.

Much like a banking app from Chase or Bank of America, Coinbase offers the Coinbase Card app, which means that the user can choose from any of their applicable wallets to perform their spending. It is available for both iOS and Android. "The Coinbase Card will initially be available in the UK with a view to going live, in the coming months, across all European markets in which Coinbase operates", Zeeshan Feroz, Coinbase UK CEO, told Hard Fork.

Are Cryptocurrency Debit Cards The Future?

This is apparently the first debit card "to link directly with a major cryptocurrency exchange" in the EU. Coinbase Card, instead, converts crypto-to-fiat instantly without having to load the card separately. Are they a possible means of spurring adoption for the everyday consumer?

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