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4 months ago

Expansion for Coinbase Cryptocurrency Visa Debit Cards into Europe.

 

Coinbase is a renowned digital currency exchange headquartered in San Francisco, California. They broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin with fiat currencies in approximately 32 countries, and bitcoin transactions and storage in 190 countries worldwide. Added to its platform is a Visa debit card service. The Cryptocurrency exchange has now expanded it to six European countries, allowing customers in the region to spend their digital assets. The Visa Debit Card enables customers to spend their cryptocurrency assets including bitcoin, ethereum, and litecoin in both online and physical stores that accept Visa. A spokesperson had noted before that the firm partners with U.K. payment processor PaySafe, to issue the cards.

 

 

Founded in June 2012 the company has a record of 1 billion USD in revenue as at (2017). The Founders, Brian Armstrong (current CEO) and Fred Ehrsam have several subsidiaries like Paradex Inc., Grafly Inc., Earn Global, Inc., Blockr.io, HardFork Inc., among others and over 500 employees to their credit.

In April, Coinbase first rolled out an exclusive cryptocurrency Visa debit card for users based in the U.K. at the time. The Coinbase Card is now available for users in Spain, Germany, France, Italy, Ireland, and the Netherlands, according to a report from CNBC on Wednesday.

Initially, 1,000 cards were issued to customers for free but in an interview with CNBC; CEO of Coinbase U.K. Zeeshan Feroz, many users the firm had signed up since April and the that it had surpassed or in his words “blew past” prior numbers but he did not disclose how many exactly.

Previously, CoinDesk had reported the Cards are linked to a mobile app and customers can fund each spending with their preferred type of cryptocurrency. Added to that, customers pay merchants directly with crypto assets without extra charges. The platform only charges a fee to help convert users’ cryptocurrencies into a fiat currency, i.e. euro in the new offering.

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Credits - Wolfie Zhao

Anita O.

Lover of tech and blockchain.

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