San Francisco-based cryptocurrency exchange Coinbase, expanded its services after debuting its Visa debit card in the U.K. in April. The exchange has now taken a step further after it announced the launch of its Visa debit card in six more European countries.The Coinbase card enables users with Coinbase accounts to spend cryptocurrencies in stores and online, at any merchant that accepts Visa.
The Coinbase card will now be available in Germany, France, Spain, Ireland, Italy and the Netherlands. The card allows users to make payments and spend digital currencies like Bitcoin, Ethereum, Litecoin, etc. for the purchase of goods and services.
Coinbase’s U.K CEO, Zeeshan Feroz, had this to say about the latest development,
“You can buy groceries on Bitcoin and then coffee on Litecoin right after.”
He also added that the goal of the card is to make payments with digital currencies as seamless as paying with cash.
The card is also available on a mobile app which syncs directly with Coinbase accounts. Physical contactless cards that can be used to withdraw cash from ATMs are also available. However, Coinbase will charge its users a fee to convert fiat money into cryptocurrencies.
Feroz added that the Coinbase card recorded an extremely positive reception since its launch in the U.K., as the company quickly blew past the initial 1,000 cards it had offered for free to users. Coinbase hopes to expand the card into other markets, but is presently on the lookout for the right banking partners.
“We will be looking at all our key markets including the U.S,” Feroz added.
Coinbase was in the news recently after a report revealed that the U.S-based exchange and Binance shared a lion’s share of the global exchange trading volume. Further, CEO Brian Armstrong made good on his 17-month promise, and revealed that batched transactions were coming soon to Coinbase.
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