Coinbase and Visa Revolutionize Crypto Payments for Users Worldwide
Coinbase and Visa – Visa users with eligible debit cards will soon enjoy the ability to instantly deposit and withdraw funds from their accounts on the crypto exchange Coinbase, following a new partnership announced on October 29. This collaboration aims to enhance the user experience for millions of Coinbase customers who already have their debit cards linked to their accounts.
Real-Time Fund Delivery
According to Visa’s statement, customers in the United States and European Union will benefit from “real-time delivery of account funds for those using an eligible Visa debit card.” This feature allows Coinbase customers to purchase cryptocurrencies directly on the platform and cash out their funds to a bank account in real-time, subject to the bank and region.
Enhanced Trading Opportunities
Yanilsa Gonzalez Ore, head of Visa Direct in North America, emphasized that this partnership enables Coinbase users with eligible Visa debit cards to “take advantage of trading opportunities day and night.” This development comes during a quiet period for crypto offerings from traditional finance firms, particularly following the significant fallout from the FTX collapse in 2022, which undermined confidence in the cryptocurrency sector and contributed to a banking crisis in early 2023.
Regulatory Developments in the EU
Despite the challenging landscape, the European Union’s regulatory framework, known as the Markets in Crypto-Assets Regulation (MiCA), began to take effect earlier this year. This regulation offers clearer legal guidance for crypto asset service providers like Coinbase, allowing them to operate more effectively in local markets.
In the United States, several prominent crypto companies, including Coinbase, have invested millions to influence the upcoming presidential and congressional elections. Many industry experts predict that the next administration or Congress will likely pass pro-crypto regulations, irrespective of the election outcome on November 5.
Continued Collaboration Between Coinbase and Visa
Visa has a longstanding relationship with Coinbase, having powered its crypto debit cards that allow users to spend their cryptocurrency through Visa’s extensive vendor network. The payments giant also signed a similar agreement with FV Bank on October 28, supporting the fintech firm’s debit cards that can be funded with both crypto and cash.
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