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

NantHealth & NantOmics launch AI platform for subtyping Lung Cancer
NantHealth & NantOmics launch AI platform for subtyping Lung Cancer
By Mateen Dalal

NantHealth, Inc., a personalized, evidence-based, next-generation healthcare company and NantOmics, LLC, one of the leading companies in molecular analysis, have reportedly launched an innovative AI platform for assisting pathologists in image-based ...

Air France-KLM & JAL make bids to purchase stake in Malaysia Airlines
Air France-KLM & JAL make bids to purchase stake in Malaysia Airlines
By Mateen Dalal

Air France–KLM S.A., one of the leading global air transport players, has reportedly made a proposal to invest in Malaysia Airlines and gain around 49 percent stake. Japan Airlines (JAL) is also looking to acquire a 25 percent stake in Mal...

Accenture opens innovation center in South Beach Road office
Accenture opens innovation center in South Beach Road office
By Mateen Dalal

Accenture, an Irish multinational professional services company, has recently opened a global innovation center within the Accenture’s office at South Beach Road, which is supported by EDB (Economic Development Board) in Singapore. It will pro...