Coinbase Card, the cryptocurrency Visa debit card from Coinbase, has added support for stablecoin DAI.
DAI, which is pegged to the US dollar, is the first stablecoin supported by Coinbase Card.
The card already supports several virtual currencies including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Brave browser’s basic attention token (BAT), Augur (REP), Stellar (XLM) as well as 0x (ZRX).
Coinbase head of growth marketing JD Millwood said: “For customers wanting to spend crypto with less volatility, DAI could be the answer. DAI aims to always be worth one US Dollar, which offers more certainty to customers when picking up last-minute Christmas gifts, rounds of mulled wine for the office, and beyond.
“This update means more than one new asset to spend; it represents a small step on our big journey to make crypto accessible to all, through alternative payment options that suit our diverse customer base.”
Developments at Coinbase
Coinbase first rolled out the cryptocurrency Visa debit card in the UK in April this year.
The card enables users to spend crypto directly from their Coinbase accounts.
In July 2019, Coinbase introduced the card in Spain, Germany, France, Italy, Ireland, and the Netherlands.
Last month, the firm launched the card in 10 new European countries, namely Denmark, Norway, Sweden, Iceland, Bulgaria, Poland, Hungary, Croatia, Liechtenstein, and Romania. The expansion increased the card’s reach to a total of 29 markets.