Visa has teamed up with Coinbase, allowing users with eligible Visa debit cards to instantly deposit and withdraw funds from their Coinbase accounts. This exciting partnership, announced on October 30, aims to enhance the user experience for millions of Coinbase customers.
With this new feature, customers in the United States and the European Union can enjoy real-time access to their funds, making it easier to buy and sell cryptocurrencies. Yanilsa Gonzalez Ore, head of Visa Direct in North America, highlighted that this means Coinbase users can seize trading opportunities anytime, day or night.
Source: XThis partnership arrives during a cautious period for crypto in traditional finance, following the fallout from the FTX collapse in 2022, which shook confidence in the sector.
However, the introduction of the EU’s Markets in Crypto-Assets Regulation (MiCA) earlier this year has provided clearer rules for crypto businesses like Coinbase.
In the U.S., major crypto companies, including Coinbase, have been actively influencing political campaigns, with hopes that the next administration will support pro-crypto regulations.
Visa has a history of collaboration with Coinbase, previously enabling users to spend their crypto via Visa’s extensive vendor network. Just a day before this announcement, Visa also partnered with FV Bank to support crypto-backed debit cards, further cementing its role in the evolving crypto landscape.
This innovative move by Visa and Coinbase opens new doors for cryptocurrency users, making transactions simpler and more efficient than ever.
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