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Visa and Coinbase announced a new partnership to simplify crypto transactions, allowing users with eligible Visa debit cards to make real-time deposits and withdrawals on Coinbase. The collaboration, unveiled in an October 29 statement by Visa, targets customers in the United States and the European Union, granting them instant access to funds deposited on the Coinbase platform.
According to Visa’s announcement, this new feature will benefit millions of Coinbase users who already have debit cards linked to their accounts. By enabling fast and efficient deposits and withdrawals, Visa aims to enhance users’ ability to seize trading opportunities around the clock, regardless of where they are. “Those Coinbase users with an eligible Visa debit card know that they can take advantage of trading opportunities day and night,” said Yanilsa Gonzalez Ore, Head of Visa Direct for North America.
Real-Time Access to Funds
Through this partnership, Coinbase customers can not only deposit funds instantly but also purchase crypto using their Visa debit cards. Once transactions are complete, users can cash out to a bank account in real time, depending on their specific bank and region. This functionality represents a convenient upgrade for users who rely on traditional banks, aligning with Visa’s goal of strengthening the intersection between crypto and mainstream finance.
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Coinbase, which has consistently expanded its services in Europe, benefits from the newly enacted EU Markets in Crypto-Assets Regulation (MiCA). MiCA provides legal clarity for exchanges like Coinbase, allowing them to operate within clear regulatory guidelines, a marked improvement following the setbacks of recent years.
The crypto exchange has also actively pursued influence in U.S. politics, investing heavily in upcoming elections, with hopes of securing a favorable legislative environment for digital assets.
Visa Expands Crypto Partnerships
Visa’s partnership with Coinbase follows another recent agreement with FV Bank, announced on October 28, where Visa will back FV Bank’s debit cards. This expansion underscores Visa’s commitment to supporting crypto integration in traditional finance, allowing users to fund accounts using both crypto and fiat currency. The card giant’s role in connecting crypto platforms with broader financial ecosystems positions it as a pivotal player in the digital finance transition.
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This partnership between Visa and Coinbase signals the increasing convergence of crypto and conventional finance, with Visa leveraging its infrastructure to make crypto transactions as seamless as possible.
