Coinbase users in the U.S. and Europe can now fund their accounts instantly using eligible Visa debit cards, thanks to a new partnership with Visa announced on October 29.
This integration leverages the “Visa Direct” feature and enables Coinbase customers to make real-time deposits into their trading accounts. Additionally, Visa debit cardholders benefit from real-time cashouts to bank accounts.
Visa noted the integration is geared towards providing Coinbase customers with the flexibility to quickly respond to crypto market shifts and minimize the usual delays linked to crypto funding.
Yanilsa Gonzalez Ore, Visa Direct’s North America head, emphasized that this feature allows users to capitalize on trading opportunities anytime by ensuring immediate account top-ups.
Akash Shah, Senior Director of Product Management at Coinbase, also emphasized the company’s commitment to enhancing user control over finances, stating,
“By enabling them to move money seamlessly and control their finances, we are delivering the trust, security, and flexibility they expect.”
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This partnership further solidifies Visa’s growing presence in the crypto sector. It builds the card payment giant’s recent initiatives like the Visa Tokenized Asset Platform (VTAP), a blockchain solution developed to help banks manage fiat-backed tokens. VTAP provides banking institutions with a pathway to explore tokenization and automate processes like credit administration through smart contracts. It supports minting, burning, and transferring stablecoins and other fiat-backed tokens. BBVA will pilot VTAP on Ethereum by 2025.
Visa has also made strides in crypto adoption with other partnerships. In July 2024, it joined forces with WireX to simplify crypto transactions across the UK and Europe. This partnership, featuring the launch of WireX’s “Wirex Pay” on a modular Zero Knowledge (ZK) blockchain, aims to merge traditional and digital finance, providing more seamless transaction options. Both noted that they would focus on creating innovative payment solutions and simplifying transactions by integrating Visa cards with WireX’s offerings.
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