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  • Writer's pictureMagdalena Gołębiewska

Coinbase Card hits $1 mln in cryptocurrency

Earlier this year Coinbase announced the launch of Coinbase Card, a Visa debit card that lets customers in the UK spend crypto as effortlessly as the money in their bank. And after couple of months - we have a milestone - $1mln. doalrs in transactions with the card. Step by step and we will get crypto mainstream <3

More about Coinbase Card - if you don't have it yet, time to order!

Coinbase Card is powered by customers’ Coinbase account crypto balances, giving them the ability to pay in-store and online using bitcoin, ethereum, litecoin, and more. Customers can use their card in millions of locations around the world, making payments through contactless, Chip and PIN, as well as cash withdrawals from ATMs. When customers use their Coinbase Card, Coinbase instantly convert crypto to fiat currency, such as GBP, which is used to complete the purchase.

To help customers manage their spend, Coinbase also launched the Coinbase Card app, which enables customers to select which of their crypto wallets they will use to fund their Coinbase Card spending. Coinbase Card supports all crypto assets available to buy and sell on the Coinbase platform, meaning they can pay for a meal with bitcoin, or use ethereum to fund their train ticket home. The app also offers instant receipts, transaction summaries, spending categories, and more.

This is the first debit card to link directly with a major cryptocurrency exchange in the UK and EU, allowing users to spend their crypto balances direct from their Coinbase account.

Coinbase Card is only available in Europe. From 11th of June, means couple of weeks ago, Coinbase Card became available in six new countries across Europe besides UK where was launched firstly, in April '19.

Now customers in Spain, Germany, France, Italy, Ireland, and the Netherlands can spend their crypto via Coinbase Card.. To find out more about the Coinbase Card, there’s more information on their website.

This card is issued by Paysafe Financial Services Limited. Paysafe Financial Services Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011(FRN: 900015) for the issuing of electronic money and payment instruments.

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