A partnership has been formed between Visa and Coinbase to add new services to cryptocurrency holders across the US and EU.
It was on Tuesday (October 29) when the deal was announced through a press release, with the aim being to add “convenience” and new offerings for Coinbase customers.
This will include security money movement as the integration with the Visa Direct network will mean people can deposit funds into their Coinbase account in real-time using eligible Visa debit cards.
This should allow customers to quickly add funds so they have more “flexibility to take advantage of reading opportunities, which can be critical in a dynamic crypto environment.”
The new functionalities include the ability to transfer funds into a Coinbase account when using a Visa debit card, purchase crypto on Coinbase directly with an eligible Visa debit card, and cash out funds from the crypto platform to a bank account through the debit card.
Coinbase and Visa previously launched debit card together
“We are thrilled to be partnering with Coinbase to help service their customers’ money movement needs,” said Yanilsa Gonzalez Ore, Head of Visa Direct, North America for Visa.
“Providing real-time account funding using Visa Direct and an eligible Visa debit card means that those Coinbase users with an eligible Visa debit card know that they can take advantage of trading opportunities day and night.”
The duo have been partnered together before as they have previously worked on the Coinbase specific Visa debit card which was launched in 2020. Users of this card are able to spend crypto everywhere Visa debit cards are accepted worldwide.
“Bringing this feature to our customers supports our mission of increasing economic freedom in the world,” said Akash Shah, Senior Director, Product Management at Coinbase.
“The integration with Visa Direct gives our eligible customers real-time 1 access to their funds for trading. By enabling them to move money seamlessly and control their finances, we are delivering the trust, security, and flexibility they expect.”
Featured Image: AI-generated via Ideogram
