Visa debit card users in the US and EU can now buy crypto more easily
Coinbase and Visa have teamed up to make cryptocurrency transactions more accessible, allowing users with eligible Visa debit cards to instantly deposit and withdraw funds on the Coinbase platform. This collaboration is designed for US and EU customers, enabling them to buy and sell crypto in real time with supported debit cards. With this feature, customers can conveniently cash out from Coinbase directly to their bank accounts, though the speed may depend on specific bank policies and regional variations.
Excited for Visa to partner with @coinbase to help them utilize Visa Direct to fund Coinbase accounts and enable real time cash outs https://t.co/aA9l6ZvwHm
— Cuy Sheffield (@cuysheffield) October 30, 2024
Yanilsa Gonzalez Ore, Visa Direct’s North American head, noted that this partnership opens up seamless trading for Coinbase users at any time. It ensures that those with eligible Visa cards have the flexibility to respond to market movements around the clock.
This move is a significant step as traditional financial institutions have largely taken a step back from crypto-related offerings since the major downturn triggered by FTX’s collapse in 2022. However, interest in crypto adoption is reigniting in regions with clearer regulatory frameworks, such as the EU’s recently implemented Markets in Crypto-Assets (MiCA) regulation, which offers a legal foundation for crypto services in the region.
In the US, Coinbase has been active in influencing policy by supporting pro-crypto candidates in upcoming elections, with hopes of seeing favorable regulations for digital assets in the future. Visa has long worked with Coinbase to provide crypto spending options, supporting the crypto debit card program that lets users spend digital assets at Visa’s broad network of vendors. This partnership follows a recent deal Visa made with FV Bank, which supports debit card funding with both crypto and cash, underscoring Visa’s commitment to advancing digital payment options.
By integrating cryptocurrency directly with Visa’s debit card services, Coinbase and Visa are working to bridge the gap between traditional finance and the evolving world of digital assets, potentially paving the way for broader crypto adoption.
