The United States based cryptocurrency exchange and wallet service recently launched its new debit card. The Coinbase VISA card has been launched in six European countries, according to reports from CNBC published on June 11.
The latest cryptocurrency news show that as of today, cardholders in Spain, Germany, Italy, France, Ireland and the Netherlands will be able to use the Coinbase VISA card which will sync directly to their Coinbase accounts. The card will come as both a mobile app for iOS and Android as well as a physical card that can be used to withdaw fiat currencies from automatic teller machines.
The new offering by Coinbase will also allow users to spend cryptocurrencies – and use the ones they hold to pay at merchants that accept Visa cards. Users can also decide which cryptocurrency to use and make a payment in the app, while Coinbase converts the cryptocurrency to cash for a fee.
As the CEO of the exchange Zeeshan Feroz said when announcing the Coinbase VISA card ““You can buy groceries on bitcoin (BTC) and then coffee on litecoin (LTC) right after.” He was featured in the altcoin news.
The Coinbase VISA card first launched for users in the United Kingdom in April this year. It was issued by Paysafe Financial Services Limited, which is regulated by the Financial Services Authority (FSA) as a certified issuer of electronic money as well as payment instruments.
The exchange, based in San Francisco, has been expanding its offerings significantly over the course of the year as many best cryptocurrency news sites reported. Last month, for example, it expanded its trading services to 50 additional countries and added trading support for the stablecoin USDC in even 85 countries. Besides the Coinbase VISA card, the exchange also added the DAI stablecoin to the Coinbase Earn program which rewards users with cryptocurrencies after they watch educational videos.
Despite the recent additions, the Vice President of Business, Data and International Emile Choi revealed that there are no plans for investing in the decentralized exchange sector:
“We have to make sure that if we offer a DEX that we’re doing it in a way that is safe and secure and compliant. I think that there’s not a lot of clarity right now on how that would work. We think this space is interesting but we’re not actively investing in it right at this moment.”
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“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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