Coinbase has just launched a Visa card for its UK and EU customers, according to its blog.
The Coinbase Card enables customers in the regions to spend their crypto as easily as Euros and pounds. The card is powered by “customers’ Coinbase account crypto balances, giving them the ability to pay in-store and online using bitcoin, ethereum, litecoin, XRP and more.” Card holders will be able to use it in locations around the world, making payments through contactless, Chip and PIN, as well as cash withdrawals from ATMs. Coinbase said: “When customers use their Coinbase Card, we instantly convert crypto to fiat currency, such as GBP, which is used to complete the purchase.”
To help customers use the new card, Coinbase has also launched a new app. This enables customers to select which of their crypto wallets they will use to fund their Coinbase Card spending. The app also offers instant receipts, transaction summaries, spending categories, and more.
According to the blog, Coinbase customers can download the iOS and Android app today. At the moment it is only available to UK customers, but Coinbase promises to add other European countries in the near future. The card is issued by Paysafe Financial Services Limited. Paysafe Financial Services Limited is authorised by the United Kingdom’s Financial Conduct Authority.