Coinbase, the North American cryptocurrency exchange, launched the Coinbase Card, which allows UK customers to pay at retail stores using digital assets, according to an announcement posted on a blog post on April 10.
What is the Coinbase Card?
The Coinbase Card is a Visa debit card loaded with the cryptocurrency funds of the Coinbase user accounts. In this sense, they can use it to make purchases anywhere in the world using their own active crypto.
Coinbase converts the funds into customers cryptocurrencies instantaneously into a fiduciary currency to complete the purchase.
Also, there is an app
Also, Coinbase launched the Coinbase Card app for iOS and Android, which links the accounts of the platform with the app and allows them to choose a particular wallet to recharge their Coinbase card.
The app offers access to receipts, transaction summaries, expense categories and other functions. The card supports all digital assets for purchase and sale on the Coinbase platform.
Paysafe Financial Services Limited, also taking part
The card is issued by Paysafe Financial Services Limited, a company authorized and regulated as a monetary institution. Currently, the Coinbase Card is available only to its British customers. However, the company plans to add support for other European countries in the near future.
It is important to note that at the beginning of the month, Visa published a job offer related to cryptocurrencies and blockchain technology, in addition to having numerous patents related to block chains in the last two years.
Also published on Medium.