This is a breakthrough for cryptocurrency. The first-ever debit card has debuted in the U.K. and E.U. that links directly with a major cryptocurrency exchange. It allows users to spend their crypto balances directly from their crypto wallets.
Coinbase Card has been launched through a partnership with Visa, enabling users to trade Bitcoin, Ethereum, Ripple’s XRP and Litecoin, all spendable through the new debit card, Computer World reported.
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According to Visa, the Coinbase Card lets users “spend crypto as effortlessly as the money in their bank” as well make cash withdrawals from any ATM. The cryptocurrency can be converted into British pounds, Euros, or U.S. dollars.
“Customers can use their card in millions of locations around the world, making payments through contactless, Chip and PIN,” Coinbase U.K. CEO Zeeshan Feroze explained in a blog post on Medium. “When customers use their Coinbase Card, we instantly convert crypto to fiat currency.”
Coinbase has also launched the Coinbase Card app, which enables customers to select which of their crypto wallets they will use to fund their Coinbase Card spending.
According to the Coinbase website, Coinbase Card is currently only available in the U.K., but will soon expand to other European countries.
