8.6 C
New York
Tuesday, July 27, 2021
Home News Coinbase becomes the first "crypto firm" Visa principal member

Coinbase becomes the first “crypto firm” Visa principal member

Coinbase has become the first pure-play cryptocurrency company to receive Visa membership, according to the official press release.

Coinbase has been working with Visa since 2019 when it launched its Coinbase Card in the UK. The debit card allows users to spend cryptocurrency as cash anywhere Visa is accepted. The card has since been made available in 29 markets with 10 cryptocurrencies supported.

Related: The biggest changes to “Swipe fees” in a decade! Let’s see what Visa is planning.

Users can decide in the app which wallet they want to use for upcoming transactions. This way, you can spend money in 10 cryptocurrencies. There are some conversion fees just like on Coinbase. In addition to those fees, there can be some additional fees if you withdraw a lot of money or make a purchase abroad.

Brian Armstrong, CEO Coinbase

Coinbase says the new relationship with Visa is a milestone in the mainstream adoption of crypto as a genuine utility.

Related: Trillion $ companies? Visa and Mastercard likely joining the club of few

States the firm: “This membership will enable us to continue to grow the Coinbase Card offering; from additional services to more markets that help to evolve and enrich the cryptocurrency payment experience.”

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Starling Bank revenue skyrockets by 600%

The digital bank Starling has managed to grow revenues to £97.6 million from £14 million in the previous period.

Revolut launched a travel booking feature

After Softbank lead an $800 million investment into Revolut, the UK-based challenger bank came up with another feature - travel booking.

Kid accounts and challenger bank options for children

Revolut junior vs. Starling Bank Kite? 🤔 Once again Everly - challenger bank news joined forces with the Scientia team and their Fintech Insights, the digital banking research platform, to compare several challenger banks' junior accounts from parent's and kid's perspectives! 👍 Check the full article here

Lunar raised €210m and reached unicorn status

The Danish challenger Lunar Bank has raised €210m in Series D funding and managed to reach unicorn status.