Even though millions of users already use debit cards to access their Coinbase accounts, Visa debit card holders can now make transfers almost instantly, something that wasn’t previously possible.
Real-time cryptocurrency transfers through compatible Visa debit cards are now possible thanks to a partnership between Coinbase and Visa. Customers in the US and the EU are eligible for the new feature.
The two companies announced on Tuesday that customers of payments behemoth Visa (V) can now link their qualified debit card to their Coinbase (COIN) accounts and make deposits, sometimes instantly.
According to the press release, the feature is available to users who reside in the United States or the European Union.
Additionally, they will be able to use the Visa debit card to buy or sell cryptocurrencies directly on the exchange, making it much simpler for those who are not familiar with cryptocurrency to invest in the asset class.
The Visa debit card will enable real-time transfers, even though millions of users currently use debit cards to access their Coinbase accounts.
Yanilsa Gonzalez Ore, Head of Visa Direct, North America for Visa, stated, “We are excited to be partnering with Coinbase to help service their customers’ money movement needs.” Eligible Visa debit cardholders can “take advantage of trading opportunities day and night” thanks to this feature.
Bridging the gap between tech-savvy crypto offerings and traditional financial services is one of the challenges the cryptocurrency industry has faced, which frequently makes it difficult for regular users to benefit from potential innovations.
Companies now have a better understanding of what they can and cannot do in the EU thanks to clearer regulations, such as the Markets in Crypto-Assets Act (MiCA), which was adopted earlier this year. This could encourage more expansions to the region at the expense of the US.
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