Visa has partnered with Coinbase to allow users with eligible Visa debit cards to instantly deposit and withdraw from their Coinbase accounts. This exciting partnership, announced on October 30th, aims to improve the user experience for millions of Coinbase customers.
This new feature gives customers in the United States and European Union real-time access to their funds, making it easier to buy and sell cryptocurrencies. Yanilsa González Ole, Head of North American Visa Direct, emphasized that this means Coinbase users will have access to trading opportunities at any time of the day or night.
Source:X
The partnership comes at a cautious time for cryptocurrencies in the traditional financial world, with confidence in the crypto industry shaken in the aftermath of the FTX collapse in 2022.
However, the introduction of the EU’s Markets in Cryptocurrency Regulation (MiCA) earlier this year provided clearer rules for crypto businesses like Coinbase.
In the United States, major crypto companies, including Coinbase, are actively influencing political campaigns in the hope that the next administration will support pro-crypto regulations.
Visa has a history of working with Coinbase, previously allowing users to use cryptocurrencies through Visa’s extensive vendor network. Just a day before this announcement, Visa partnered with FV Bank to support cryptocurrency-backed debit cards, further strengthening its role in the evolving cryptocurrency landscape.
This innovative move by Visa and Coinbase opens new doors for cryptocurrency users, making transactions simpler and more efficient than ever before.
Also read: Coinbase CEO offers wallet to AI influencer behind GOAT coin
