Home News Exchange Coinbase Rolls Out Visa Debit Card to Six European Countries

Coinbase Rolls Out Visa Debit Card to Six European Countries

June 12, 2019 11:55
Coinbase adds support to Pound sterling
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Cryptocurrency exchange Coinbase has rolled out its Visa debit card to six more European countries. News portal CoinDesk reported that the new countries include, Spain, Germany, France, Italy, Ireland, and the Netherlands.

The portal added that with the new debit card, users will be able to spend cryptocurrencies such as bitcoin, Ethereum and Litecoin, both online as well as physical stores, where Visa is accepted.

As earlier reported, when the card was launched in April, it was only available in the United Kingdom and was powered by Coinbase account crypto balances. On request of payment by the merchant, Coinbase would instantly convert the customer’s cryptocurrency funds into traditional fiat currency and pay the retailer to complete the purchase.

Customers would only able to use Bitcoin, Ethereum, Ripple and Litecoin balances for their crypto payments. The exchange has also released a Coinbase Card app, that will link customer’s Coinbase account and choose the particular wallet to fund their Coinbase card. The app will provide receipts of the transactions, transaction summaries and spending tracker to keep people track of their spending.

Earlier the exchange had said, “Currently, the daily spending limit is £10,000. Feel free to contact [email protected] if you would like to change your daily spending limit. Additionally, there’s a monthly purchase limit of £20,000 and a yearly purchase limit of £50,000. There is a daily ATM withdrawal limit of £500.”

Coindesk further reported that Zeeshan Feroz, CEO of Coinbase U.K., did not disclose how many users the firm had signed up since April but said in an interview with CNBC that it had “blew past” the initial 1,000 cards issued to customers for free.

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