Visa has partnered with cryptocurrency exchange Coinbase, enabling new services for users in the US and EU. Through integration with the Visa Direct network, Coinbase clients will be able to quickly fund their accounts in real time, purchase cryptocurrencies, and withdraw funds to their bank accounts instantly, using corresponding Visa debit cards.
The integration with Visa Direct allows:
- Real-time funding of Coinbase accounts.
- Purchasing cryptocurrency on Coinbase directly with a debit card.
- Withdrawing funds from Coinbase to a bank account.
This update pertains to the Coinbase Visa debit card, launched in October 2020. It allows exchange users to spend Bitcoin and other cryptocurrencies for everyday purchases or withdraw cash from ATMs, simplifying the conversion of cryptocurrency to cash (fiat) when needed.
In recent years, Visa has formed partnerships with various crypto firms, including Transak, Crypto.com, Circle, and Solana.
Source: Visa
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