- Coinbase becomes the first cryptocurrency firm to be approved as the principal member of VISA.
- The new milestone becomes a significant achievement in the mainstream adoption of cryptocurrency as a genuine utility.
Coinbase, the leading San Francisco based cryptocurrency exchange, has become the first company to get approved as the Visa principal member according to a report. Coinbase was approved in the second half of the last year. However, they have announced it now.
With Coinbase being the principal member of the VISA, it can now provide the debit cards without having to rely on the third-parties. The new debit card will be known as the Coinbase Card, and it allows its customers to spend multiple cryptocurrencies for all the customers in the European Union. The Coinbase card will allow its users to use the card in day to day activities.
The company has declared itself as the first “pure-play crypto company. We will continue to build on this relationship with further initiatives which make interacting with crypto as seamless as possible for our customers.”
Currently, the card is available in 29 markets and is supported by ten cryptocurrencies. Coinbase further said, “membership will enable us to offer more features for Coinbase Card customers; from additional services to support in more markets — all elements that will help to evolve and enrich the cryptocurrency payment experience.”
There have been many cryptocurrencies trying to set their foot in the world of cryptocurrency debit cards. Recently, the Coinbase launched an advertising campaign to help to tackle racial discrimination in the financial sector. This all only shows that cryptocurrency is here to stay and to flourish.