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Coinbase has announced a partnership with payment giant Visa to allow real-time crypto purchases through debit cards.
Eligible Visa debit cardholders in the US and EU will be able to deposit funds directly into their Coinbase accounts, with some transactions processed instantly. These users can also use their debit cards to buy cryptocurrencies on Coinbase and withdraw funds directly to their bank accounts.
“Providing real-time account funding using Visa Direct and an eligible Visa debit card means that those Coinbase users with an eligible Visa debit card know that they can take advantage of trading opportunities day and night,” Yanilsa Gonzalez Ore, head of Visa Direct for North America, said in the statement.
Coinbase previously launched a Coinbase Card in the UK and EU backing 2019 in partnership with Apto Payments. Visa has collaborated with Coinbase for years, enabling crypto debit cards that allow users to spend their cryptocurrency across its network of vendors.
“Coinbase already has millions of users with a debit card connected to their account,” Visa said. "Now, United States and European Union customers will get “real-time delivery of account funds for those using an eligible Visa debit card.”
The announcement comes one week after the Avalanche Foundation introduced a new cryptocurrency card with Visa, which allows users to spend their crypto seamlessly at payment points.
The Avalanche Card will support Circle's USD Coin (USDC), Wrapped AVAX (wAVAX), BENQI Liquid Staked AVAX (sAVAX), and other cryptocurrencies.
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According to the Avalanche Card website, the card will be available in both physical and virtual forms and can be used “wherever Visa is accepted.”
