Crypto users have long yearned for a way to ease the use of cryptos. That prayer was answered in the form of the introduction of crypto ATMs, precisely Bitcoin ATMs. Other cryptos are yet to have such backing. However, a crypto ATM doesn’t quite accomplish what a simple debit card can, and shrewd entities like Coinbase and Visa know that.
Today Coinbase became the first crypto company to be granted #Visa principal membership. This will enable us to offer more features for #CoinbaseCard users in the UK and Europe; from additional services to more supported markets – all making it easier to spend crypto everyday.— Coinbase (@coinbase) February 19, 2020
Now, the two popular entities are teaming up to come up with a common debit card that will let users spend their cryptos whenever and wherever they want. It’s also interesting that such entities working in entirely different spheres of currency systems can find a middle ground and work together.
No More Middlemen
Coinbase deals with cryptos. It’s a crypto exchange. On the other hand, Visa deals with mainly fiat money in digital form. The partnership between the two to streamline crypto usage deals a blow to the middlemen who are always cutting a piece of the users’ funds in exchange for their facilitation of payments. Their exclusion in the transaction chain is a huge benefit to the users.
From an optimist’s point of view, it’s a relief to see such entities working hand-in-hand to serve the users. In fact, it’s in itself a sign that more players in the financial sector are finally ready to ditch the competition and join the crypto bandwagon.
Coinbase and Visa have targeted some of the most popular cryptos in the market. The proposed new debit card will facilitate XRP, Bitcoin, and ETH payments. Granted, the 3 cryptos are currently the top 3 in the charts in terms of market capitalization.