Coinbase, one of the leading cryptocurrency exchanges in the United States has introduced a new Visa card. Going by the name Coinbase Card, this new Visa card is designed specifically for the users in the United Kingdom. It will allow the customers based in the UK to pay-in-store as well as online with the virtual currencies. The development was announced in a post published in one of the popular blogs on April 10th.
About The Coinbase Card
The Coinbase Card is basically a Visa debit card. What makes it unique is that it is powered by the crypto balances of the customers’ Coinbase account. This feature enables them to make purchases with the virtual coins all across the globe. In order to finish up the transaction, Coinbase will then convert the crypto funds of the customers into fiat currency.
The Coinbase Card App
It appears that Coinbase is more than prepared to ensure that this new card gets the support it needs. The crypto exchange went ahead and created both an iOS and Android applications for the Visa card. The main duty of this application is to link the accounts of the Coinbase customers with the application. It then enables them to pick a given wallet that they can use for funding their Coinbase card. In addition to that, the application offers access to transaction summaries, receipts, spending categories and a number of other features.
The app also helps in a number of other areas. It has also been reported that the card supports all the digital assets that are available to buy or sell on the main Coinbase platform.
The Card Is Fully Authorized
With the rising cases of fraud in the market, one must look out each time they are making a purchase. This even extends to the usage of certain cards that are used in the market. One thing that makes this new Coinbase card the best is the fact that it is authorized for use in the market. The card is fully regulated and authorized by relevant bodies in the industry.
For this particular one, Paysafe Financial Services Limited has ensured that the card works effectively for its sole purpose. At the moment, Coinbase Card is available for clients that are in the United Kingdom. However, there are plans by the crypto exchange of introducing support for other countries in the larger European region.
Visa Slowly Getting Into The Crypto Market
All indications show that cryptocurrency will soon be used in the whole financial market. Both cryptocurrency and blockchain have literally taken the world by a storm. The latest to join this growing market is Visa. Just recently, Visa announced a blockchain and crypto-related job opening. It is the first time the firm is publishing a job opening in the area of crypto and blockchain. The company is ostensibly looking for an individual who can fit in the position of Technical Product Manager at its Palo Alto Visa Fintech’s office.