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Coinbase revealed Wednesday that it has launched the Coinbase Card, a Visa debit card that lets customers in the UK spend crypto as effortlessly as a typical debit card tied to a bank account.
According to the announcement, the new Coinbase Card allows Coinbase users to pay in-store and online using the digital currencies available on the exchange, including Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). When users pay with the Coinbase Card, the crypto is instantly converted to fiat currency for the transaction.
In addition to the card, Coinbase has launched the Coinbase Card app, which enables users to actively monitor their crypto wallets and select the funds to use when making purchases. The app provides instant receipts, transaction summaries and more.
“This is the first debit card to link directly with a major cryptocurrency exchange in the UK and EU, allowing users to spend their crypto balances direct from their Coinbase account,” Coinbase UK CEO Zeeshan Feroz stated. “Coinbase Card is currently only available in the UK, but we plan to support other European countries in the coming months.”
Coinbase users can download the iOS and Android app today, and the exchange is waiving the £4.95 card issuance fee for the first 1,000 people to join the waitlist.