coindesk.com
Visa and Coinbase have partnered to offer real-time crypto transfers via eligible Visa debit cards.
The new feature applies to customers in the U.S. and the European Union.
Customers of payments giant Visa (V) can now integrate their eligible debit card into their Coinbase (COIN) accounts and deposit funds, at times instantly, the two firms announced on Tuesday.
The feature applies to users living in the U.S. or the European Union, according to the press release.
They will also be able to buy or sell cryptocurrencies directly on the exchange using the Visa debit card, offering a much easier way for non-savvy crypto folks to invest in the asset class.
While millions of users already use debit cards to connect to their Coinbase accounts, using the Visa debit card will allow for real-time transfers.
“We are thrilled to be partnering with Coinbase to help service their customers’ money movement needs," said Yanilsa Gonzalez Ore, Head of Visa Direct, North America for Visa. The feature allows eligible Visa debit card holders to “take advantage of trading opportunities day and night.”
One of the hurdles the cryptocurrency industry has faced is bridging the gap between traditional financial services and tech-savvy crypto offerings which often makes it difficult for everyday users to take advantage of the innovations that may be available.
Clearer regulation in the E.U., for example the adoption of the Markets in Crypto-Assets Act (MiCA) earlier this year, has offered companies some clarity for what they can and can’t do in the region, possibly spurring further expansions to that region at the expense of the U.S.