Coinbase users will have exclusive access to a new crypto use case with which they can transact from their wallets through Visa debit cards.
The Visa Direct payment solution has made a new crypto use case possible for Coinbase users. Announcing the feature, Visa published a press release and shared its details. The feature, exclusively for Coinbase users, will enable them to transact from their wallets through eligible Visa debit cards.
Visa Direct has made it possible for Coinbase users to transact in three different ways. First, they would be able to transfer funds to their Coinbase accounts through Visa. The reverse would also be possible, with seamless cash outs from Coinbase using Visa Direct. At the same time, users can also purchase crypto on Coinbase directly through their Visa debit cards. In this way, both Visa and Coinbase have created an integrated money movement process for their users.
Currently, the feature is only meant for Coinbase users in the European Union and the United States. The press release noted that millions of Coinbase users have already connected their respective debit cards with their accounts. Besides, the new feature for Visa debit card holders would only make transactions smoother.
Akash Shah, a senior official at Coinbase, said, “The integration with Visa Direct gives our eligible customers real-time 1 access to their funds for trading. By enabling them to move money seamlessly and control their finances, we are delivering the trust, security, and flexibility they expect.” The press release also stated that a Coinbase Visa debit card would continue to be in use in the US.
Meanwhile, among global payment majors, Visa is one of the leading voices on crypto adoption. Moreover, several of its latest partnerships have been along similar lines. Its initiatives are mainly in collaboration with other crypto firms.
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