Visa allowed Coinbase to release bitcoin debit card

American cryptocurrency exchange Coinbase has received the status of full participant in the Visa system. According to Forbes, today Coinbase is the only crypto-company that has managed to achieve this level of certification.

the Status of “Principal Member” allows you to issue debit cards, and Coinbase customers can now spend their bitcoins, esters and XRP wherever Visa cards are accepted.

Holders of debit cards Coinbase, which was presented in April 2019, will be able to pay with bitcoin in 29 European countries. In the app you can choose which wallet to use for upcoming transactions. The card supports 9 different cryptocurrencies: Bitcoin, Ethereum, Bitcoin, Cash, Litecoin, Brave, Augur, Stellar, 0x and XRP.

Perhaps even more important advantage of the status of “Principal Member” is that Coinbase imeet the right to issue debit cards for other companies, including other crypto-currency companies. Despite the fact that Coinbase is not going to provide such services in the near future, it may become a new source of revenue for the company, the proceeds of which in 2019 have fallen almost 40%.

CEO of Coinbase UK Zeeshan Feroz (Zeeshan Feroz) said in an interview with Forbes that early cryptocurrency assets were not liquid, since it was necessary to convert them into the exchanger, so the payment was not instant. Now the tokens can be spent in real-time for payment of goods and services, regardless of whether the seller cryptanalytic.

Previously, the issue of debit cards Coinbase did the group of companies Paysafe Limited Group. It is expected that eventually the fees for processing transactions will decrease in the payment chain will be one link less. At the moment, Coinbase charges a fee of $0.99 for each transaction worth less than a dollar.

Primechatelbut that earlier team Visa negative comments about bitcoin, calling bitcoin a “financial bubble for criminals.” Head of payment giant Mastercard also spoke negatively about the cryptocurrency. In the fall of 2018, both companies took the decision to tighten the terms of service bitcoin cards.