Digital currency exchange Coinbase has become a Visa principal member, becoming the first pure crypto firm to secure the membership.
The membership enables Coinbase to issue debit cards for others, including other crypto firms.
Go deeper with GlobalData
Coinbase and Visa have been working together since last April, with the introduction of the Visa debit Coinbase Card in the UK.
Those using the card can make payments both in-store as well as online using Bitcoin, Ethereum, Litecoin, among others.
In a blog post, Coinbase said: “This membership will enable us to offer more features for Coinbase Card customers; from additional services to support in more markets — all elements that will help to evolve and enrich the cryptocurrency payment experience.
“Today’s announcement is another significant milestone in the mainstream adoption of crypto as a genuine utility. We will continue to build on this relationship with further initiatives which make interacting with crypto as seamless as possible for our customers.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe UK, Italy, Spain, and France are the key markets of the crypto debit card, noted the crypto exchange.
The reach of the card was eventually expanded to 29 markets.
Coinbase further stated that more than half of those owning the card use it on a regular basis.
In December last year, the Coinbase Card added support for stablecoin DAI. It is the first stablecoin supported by the card.
