Coinbase launches Paysafe-issued Visa debit card using crypto

Coinbase, a U.K.-based virtual currency exchange, has announced the launch of Coinbase Card, a Visa debit card that lets customers in the U.K. spend crypto just as they would the money in their bank account.

The card, issued by Paysafe Financial Services Ltd., gives users the ability to pay in-store and online from their bitcoin, Ethereum, or Litecoin account, among others, according to the company’s blog.

Coinbase said that the contactless EMV-enabled card can be used at Visa card-accepting locations around the world. Purchase amounts are instantly converted from cryptocurrency to fiat currency, which is used to complete the purchase.

A Coinbase Card app available for both iOS and Android platforms allows customers to select which crypto wallet they wish to use to fund their Coinbase Card spending. The app also provides instant receipts, transaction summaries, spending categories, and more.

To celebrate the launch of its card, Coinbase Card said it would waive the 4.95 pound ($6.46) issuance fee for the first 1,000 people to join the waitlist for the card.

In a separate announcement, Madrid-based 2gether said it had officially launched its own prepaid Visa cryptocurrency card in Europe.

Topics: Bitcoin, Card Brands, In-App Payments, Mobile Payments, Region: EMEA

Companies: Visa, Paysafe Group

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