Coinbase expands its cryptocurrency debit card to 6 more EU countries
Category: #business  By Mateen Dalal  Date: 2019-06-13
  • share
  • Twitter
  • Facebook
  • LinkedIn

Coinbase expands its cryptocurrency debit card to 6 more EU countries

Users are able to spend cryptocurrencies such as Ethereum, Litecoin and Bitcoin in any store or online platform where merchants accept Visa

Coinbase, a California based digital currency exchange, recently announced the launch of its crypto debit card in six more countries in Europe. The card first debuted in the UK in April with a target of 1,000 cards initially.

Reportedly, The company observed a strong acceptance of the card when it surpassed the initial target and decided to expand it in more countries. Users that own Coinbase accounts are able to spend cryptocurrencies such as Ethereum, Litecoin and bitcoin in any store or online platforms where merchants accept Visa.

In an interview with CNBC, Zeeshan Feroz, CEO, Coinbase UK, stated that that the aim for the crypto card is to make payment with digital currency as smooth as it is with cash.

According to reliable sources, the Coinbase card will be made available in France, Netherland, Spain, Ireland, Italy and Germany. The card is available in a mobile app that is directly synced with Coinbase accounts. It can also be used as a physical contactless card to withdraw cash from ATMs.

Apparently, it depends on the users to decide as to which cryptocurrency they would choose to make a payment in the mobile app. Coinbase reportedly charges a fee in order to convert fiat money into digital currency rather than directly paying it to the retailers with a cryptocurrency.

Sources mentioned that the recent valuation of Coinbase was pegged at $8 billion . It was reported that Coinbase laid off over a dozen of workers in its Chicago office when the prices for digital currency took a plunge this year.

Mr. Feroz said that the company is looking for the right banking partners in order to expand the card into other markets. They’ll be looking out for all their key markets including the U.S., the CEO added.

 

Source Credit-https://finance.yahoo.com/news/coinbase-debit-card-launches-6-101056671.html

https://www.cnbc.com/2019/06/12/coinbase-expands-its-cryptocurrency-debit-card-to-europe.html

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

Read More

More News By Mateen Dalal

Peraton to acquire innovative IT solutions provider Solers Inc.
Peraton to acquire innovative IT solutions provider Solers Inc.
By Mateen Dalal

Virginia-based Peraton, a defense and intelligence contractor owned by private equity firm Veritas Capital, reportedly announced that it has signed a definitive agreement to acquire Solers Inc., a leading provider of software development and cybersec...

Forty Seven publishes data on Phase 1b/2 clinical trial of 5F9
Forty Seven publishes data on Phase 1b/2 clinical trial of 5F9
By Mateen Dalal

A clinical-stage immune-oncology company, Forty Seven, Inc., that works to develop therapies targeting cancer immune evasion pathways, has revealed clinical data from Phase 1b/2. The company is evaluating a new drug combination of Recombinant Human A...

FDA grants orphan drug tag to NuCana’s biliary tract cancer treatment
FDA grants orphan drug tag to NuCana’s biliary tract cancer treatment
By Mateen Dalal

NuCana is on its way to open a Global Phase III study of Acelarin in combination with cisplatin for patients who are suffering from the disease in 2019 NuCana plc recently announced that it has received Orphan Drug Designation for Acelarin, an inves...