On Wednesday the famous Digital currency exchange Coinbase stated that its much anticipated Visa debit card is going to launch in six more European countries after the initial launch in the United Kingdom last April.
This visa card enables users with Coinbase accounts to handle and spend cryptocurrencies like ethereum, bitcoin, and litecoin in local shops and online at any retailer that takes Visa.
Zeeshan Feroz the CEO of Coinbase U.K. informed CNBC in a discussion that the aim of the visa card is to secure payments with digital currencies as easy and secure as paying with cash. He said, “You can buy groceries on bitcoin and then coffee on litecoin right after.”
This Wednesday, the “Coinbase Card” will be available in Germany, Spain, Ireland, Italy, France, and the Netherlands. Coinbase CEO Feroz stated that the card is perceived as “extremely strong take-up” after it started in the U.K. in April. He did not reveal any particular numbers but said the organization “blew past” the first 1,000 cards it authorized users for free.
The card is accompanied by a mobile application and connects instantly with Coinbase accounts. It is also accessible as a physical contactless card that can be used to withdraw cash from ATMs.
Users can choose which cryptocurrency they want to use to pay in the app.
Start-ups, banks and tech companies are working more to make crypto payments more convenient. Coinbase competing Binance, one of the world’s biggest cryptocurrency exchanges, partnered with fintech to allow debit and credit card payments with crypto earlier this year.
Feroz said that Coinbase expects to increase its influence into other markets but wants first to find the best banking partners.
“We will be looking at all of our key markets including the U.S.,” he said.
Six more countries included in Coinbase debit card
Market Trends - 12/06/2019