In line with a recent report published by CNBC, U.S. based leading crypto-currency exchange and wallet service provider named ‘Coinbase’ has launched its Visa debit card service in 6 European countries.
As for now, cardholders within Spain, Germany, France, Italy, Ireland along with Netherlands would be able to use the cards, that links directly to their Coinbase accounts. The card comes as both a mobile application for iOS or Android, as well as a physical card that could be used to withdraw fiat currencies from the ATMs.
Coinbase’s new service supposedly permit users to pay cryptocurrencies they hold at any merchant that accepts Visa cards. Users can completely decide which ‘cryptocurrency‘ they wish to use to complete a payment within the app, while Coinbase subsequently converts the crypto’s to cash, for fee.
The card was 1st ‘launched‘ for users within the United Kingdom earlier in the month of April this year. The card was issued by Paysafe Financial Services Ltd., that is regulated by the FSA [Financial Services Authority] as a licensed issuer of electronic cash as well as payment instruments.
The San Francisco-based exchange has been expanding its offerings considerably over the course of the year. Last month, it ‘expanded‘ its trading services to 50 additional countries and also added support for its stablecoin ‘USDC’ in 85 different countries. Coinbase conjointly ‘added‘ the dai ‘stablecoin‘ to its Coinbase Earn program, that rewards users with crypto for watching academic videos.
Despite its recent additions, Coinbase V.P. of Business, Data and International ‘Emilie Choi’ aforementioned that it’s not presently investing within the decentralized exchange sector even after the ‘acquisition‘ of decentralized P2P [peer-to-peer] trading platform ‘Paradex’ last year. Choi added:
“We have to ensure that if we provide a dex that we’re doing it in a way that is safe and secure and compliant. I believe that there’s not a lot of clarity right now on how that would work. We predict this space is interesting but we’re not actively investing in it right at this present moment.”