- Coinbase launches its Visa-based debit card in six countries in Europe.
- Users will pay a conversion fee for paying with digital coins.
The US-based cryptocurrency exchange Coinbase has launched its Visa debit card in six European countries. The project debuted in the UK in April, however, starting from Wednesday, June 12, the card is also available for Coinbase users in Spain, Germany, France, Italy, Ireland and the Netherlands.
The card was issued by Paysafe Financial Services Limited, a certified issuer of electronic money and payment instruments with a license of the Financial Services Authority.
According to Coinbase CEO in the UK Zeeshan Feroz, this card is supposed to make payments with digital money easy and streamlined.
“You can buy groceries on bitcoin and then coffee on litecoin right after,” he said in the recent interview with CNBC.
While the card usage statistics are not disclosed as of yet, Feroz mentioned that it has seen “extremely strong take-up” in the UK. Users can load it into their mobile devices and sync directly with Coinbase accounts. Also, it can be used as a physical card to withdraw cash in ATMs.
Users select the cryptocurrency they want to pay with. However, retailers receive payment in fiat money, while Coinbase charges users a conversion fee.
Coinbase is one of the strongest players on the cryptocurrency market. It survived the crypto winter, though had to sacrifice its Chicago office.
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