- Visa and Coinbase announced a partnership
- Visa debit card holders will now be able to buy crypto directly in real-time
The partnership of two payment giants from the Web2 and Web3, Visa and Coinbase is not indifferent and gives great opportunities for direct purchase of crypto to a huge number of people at once.
Visa and Coinbase Partnership Details
More specifically, we will have the real-time direct crypto purchase feature using Visa debit cards on the Coinbase platform.
This is primarily available to customers in the United States and the European Union, although the processes of clarifying the EU’s regulatory framework for cryptocurrencies are still ongoing and MiCA only came into effect earlier this year.
Focusing on the official announcement of October 29, it says:
- Transfer funds into their Coinbase account in real-time using an eligible Visa debit card
- Purchase crypto on Coinbase directly with an eligible Visa debit card
- Cash out funds from Coinbase to a bank account, via an eligible Visa debit card, in real-time
In this statement, Yanilsa Gonzalez Ore, Head of Visa Direct, North America for Visa highlighted:
“We are thrilled to be partnering with Coinbase to help service their customers’ money movement needs. Providing real-time account funding using Visa Direct and an eligible Visa debit card means that those Coinbase users with an eligible Visa debit card know that they can take advantage of trading opportunities day and night.”
He is also complemented by Akash Shah, Senior Director, Product Management at Coinbase:
“Bringing this feature to our customers supports our mission of increasing economic freedom in the world. The integration with Visa Direct gives our eligible customers real-time access to their funds for trading. By enabling them to move money seamlessly and control their finances, we are delivering the trust, security, and flexibility they expect.”
Conclusion
A promising collaboration, obviously affecting a huge number of people considering how large the user base of each of these financial giants is.
Let’s look forward to initial feedback on user experience and additional prospects for collaboration that may yet be forthcoming. Stay tuned.
