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Visa has announced a new partnership with Coinbase, offering enhanced money movement capabilities for eligible Coinbase users in the U.S. and the EU. The integration with Visa Direct will allow Coinbase customers to deposit funds instantly using a Visa debit card.
Visa Direct is a payment network that allows businesses and individuals to send and receive money directly to Visa-branded cards in real-time. This means you can quickly transfer funds to friends, family, or employees or receive payments from businesses for refunds, rebates, or other purposes. Visa Direct supports both credit and debit cards, making it a versatile solution for various financial transactions.
Coinbase, a platform with millions of users already linked to debit cards, adds this service to its offerings as the demand for immediate fund availability grows. Yanilsa Gonzalez Ore, Head of Visa Direct for North America, stated that the integration would allow eligible Coinbase customers to leverage trading opportunities anytime, improving user experience through more streamlined financial access.
In addition to enabling real-time deposits, this partnership also supports instant cashouts to bank accounts via Visa Direct, provided the user has an eligible Visa debit card. Akash Shah, Senior Director of Product Management at Coinbase, said that the new service offers users greater financial control, aligning with Coinbase’s goal of increasing economic accessibility.
It is worth noting that Coinbase also offers the Coinbase Visa debit card, also known as the Coinbase Card, which is available in several European countries (including the UK) and the U.S. (with the exception of Hawaii).
Featured Image via Coinbase