Coinbase Has Become a Principal Member of Visa Card Issuer
By Max Steadman – Cryptocurrency Enthusiast
An announcement on the Coinbase blog declared Coinbase as a principal member of Visa, aimed at helping people to convert crypto using the system to enable high street purchases. The development of this partnership allows Coinbase to issue Visa-based debit cards without any dependency on third parties. Coinbase begun launching these cards, named the ‘Coinbase Card’, back in 2019, working towards making crypto asset management less and less technical for the person on the street. It is promising more services and support for a huge number of different markets worldwide.
Users from the European Union and the European Community will now be able to combine crypto with a credit card. Major usage has been seen, and can be expected to grow, in the United Kingdom, followed closely by Italy, France and Spain. Multiple cryptocurrencies can be spent through this card such as Bitcoin. In addition, the card is functional all over the globe, although not all nations have availability to this card.
Coinbase proudly asserts themselves as the very first ‘pure-play’ crypto company to be a part of such a mainstream electronic card payment infrastructure. A long history can be seen regarding Coinbase and their attempts to bring their cards to the masses and this is evident in Coinbase's support of the Shift crypto card, an early attempt at addressing these services launched back in 2015.
This new version is supported by Paysafe Financial Services Ltd, though the transition to Coinbase issued cards has not yet fully been revealed. While Coinbase is yet to add any further comments to this conversation, new information is expected to land in the public domain soon.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing firstname.lastname@example.org from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to email@example.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at firstname.lastname@example.org Kind Regards