Visa and Coinbase have announced a new partnership to enable customers with eligible Visa debit cards to instantly buy, deposit, and withdraw crypto via the Coinbase platform.
Visa and Coinbase Partner for Crypto Purchases on Debit Cards
Customers in the United States and the European Union will soon get real-time access to their account funds when using eligible Visa debit cards, Visa announced.
This partnership will also allow Coinbase users to instantly purchase crypto and deposit funds into their bank accounts in real-time, depending on regional banking policies.
“Coinbase already has millions of users who have a debit card linked to their account,” Visa said, adding that the new service will provide greater convenience and 24/7 access to trading opportunities.
Yanilsa Gonzalez Ore, head of North America at Visa Direct, highlighted the benefits of the collaboration: “Coinbase users with an eligible Visa debit card will know they can take advantage of trading opportunities around the clock.”
Increasing Crypto Adoption Amid Regulatory Changes
The announcement comes at a crucial time for the crypto industry, with traditional financial firms cautious about the crypto space following the collapse of FTX in late 2022, which eroded market confidence and triggered a banking crisis in 2023.
However, the regulatory clarity brought by the Markets in Crypto Assets (MiCA) regulation in Europe has allowed companies like Coinbase to expand their operations with a clear legal framework.
Meanwhile, in the US, major crypto players including Coinbase are spending heavily to influence the election ahead of the November 5 vote, expecting a shift towards pro-crypto policies under the next administration or Congress.
*This is not investment advice.