(BlockBar) The exchange’s Visa debit card was launched in the UK in April. Zeeshan Feroz, the chief executive of Coinbase UK, told CNBC that the card had performed “very strongly” since it was launched in the UK in mid-April. He did not reveal specific figures, but said the company planed to offer a lot of debit cards to new users for free, as it had in the past. Users with Coinbase accounts can use cryptocurrencies such as bitcoin, ethereum and litecoin to make payments at the stores and online of any merchant that accepts Visa. The card aims to make digital currency payments as easy as cash.
The card has an APP that syncs directly with user’s Coinbase account or allows user to withdraw money from ATM. In the APP, users can decide which cryptocurrency to use for payments. Coinbase charges users a fee to convert legal tender into digital currency.
The card is issued by Paysafe Financial Services Limited, a regulated electronic money and payment instrument publisher regulated by the Financial Services Authority.
In January, Coinbase’s competitor, Ninance, announced a partnership with Simplex, a payments business processing company, that will allow users to purchase cryptocurrency directly from Ninance website with credit CARDS. Though Simplex, Ninace users can use Visa and MasterCard CARDS to purchase BTC, ETH, LTC and other cryptocurrencies and conduct transactions at Binance.com.
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