VISA and Coinbase to collaborate in new cryptocurrency card
- The two giants in their own respective fields, VISA and Coinbase will be partnering up to introduce a cryptocurrency card.
- It is detailed that the card will allow for purchases in BTC, ETH, XRP and LTC.
A new partnership has been announced between VISA and Coinbase, as they seek an effective way bypass the adoption requirement for retailers entirely. It will facilitate their customers to make purchases in cryptocurrency, this would instantly be converted to fiat through a backend system.
A report from Computer World suggests that the Coinbase card, is going to be linked to the holder’s cryptocurrency wallet with the exchange. It will allow for purchases in; Bitcoin, Ethereum, XRP, and Litecoin. Separately, VISA detailed that this would allow card holders to “spend crypto as effortlessly as the money in their bank.” Furthermore, the card will also accommodate for ATM withdrawals.
Coinbase UK CEO Zeeshan Feroze commented on the back of the announcement:
Customers can use their card in millions of locations around the world, making payments through contactless chip and PIN. When customers use their Coinbase Card, we instantly convert crypto to fiat currency.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
