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.