The major American cryptocurrency exchange Coinbase is in the latest cryptocurrency news because a radical announcement and launch of a new debit card named the Coinbase Card. After partnering with VISA, Coinbase has launched the card to enable its United Kingdom-based customers to pay-in store and online with their Bitcoin and cryptocurrency earnings.
The development was initially announced in a blog post that was published on April 10. For those of you who don’t know, this debit card is issued by VISA and powered by the customers’ Coinbase account crypto balances which allow them to make purchases with digital currencies worldwide.
“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, we instantly convert crypto to fiat currency, such as GBP, which is used to complete the purchase,” the release notes.
Coinbase instantly converts the customers’ cryptocurrency funds into fiat currency in order to complete each purchase. The app has also been released for iOS and Android in an attempt to link the customers’ Coinbase accounts with the app and allow them to choose a particular wallet to fund their Coinbase VISA Card.
In addition to this, the card will also provide support for all digital assets and altcoins available for sale on the Coinbase platform. Issued, authorized and regulted by the electronic money institution Paysafe Financial Services Limited, the Coinbase VISA Card is currently only available for customers in the UK but there are plans already for support coming to other European countries in the near term.
Earlier this month, Visa also made the news for publishing its own crypto and blockchain-related job opening. In the opening, Visa is seeking a professional that would fill the position of a Technical Product Manager at Visa Fintech at its Palo Alto office.
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Gold-Backed Russian Crypto Could Crush The USD Standard
“As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”Nabuilna explained that CBR is still unsure whether to use cryptocurrencies and how they could be launch into Russia’s monetary system but the idea of a zero-volatility digital asset is inviting:
“The CBR, in principle, is opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies fulfill the function of monetary surrogates. We have prepared an analytical report and will soon present it which will analyze what cryptocurrency is, what is happening in the world, what approaches different countries to have, and what regulation is envisaged. And, if the phenomenon of cryptocurrency in any perspective may cause risks to our macroeconomic stability, we need to understand that.”As noted in one of the best cryptocurrency sites, Russia is under significant economic sanction from the United States.
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Hottest Cryptocurrency Is Up 330% This Year (And It’s Not Bitcoin)
“Every time we’ve seen a halving event in Bitcoin or Litecoin, the price has risen astronomically,” is what Mati Greenspan believes, who is a senior market analyst at the trading platform eToro. “So if that pattern continues, what we’ve seen so far is small potatoes in comparison,” he said. “This is quite normal for the crypto market.”Right now, cryptocurrencies are undergoing a major renaissance. While Litecoin is reported as the hottest cryptocurrency this year by many best cryptocurrency news sites, Bitcoin is also triggering a new rally and Facebook with its expected crypto project is additionally fueling up the space. All of the developments happening this year have managed to push the price of Bitcoin by 120% since the beginning of the year - and the price of Ether close to 100% this year. Litecoin remains the hottest cryptocurrency - going from $30 at the end of last year to $130 right now.
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