Cryptocurrency exchange Coinbase has launched a Visa debit card for U.K. and EU users. With the “Coinbase Card” they can spend coins directly from their Coinbase accounts “as effortlessly as the money in their bank.”
With previously available Coinbase card, users had to pre-load a specified amount of cryptocurrency onto the card in order to spend.
PaySafe, a U.K. payment processor, is the issuer of the new crypto cards. The card supports all crypto assets available to buy and sell on the exchange. “Coinbase Card” holders can pay for everyday purchases.
The exchange reported it “instantly” convert cryptos to fiat currency, such as the British pound (GBP), when customers complete a transaction using the debit card.
The exchange has also launched an app for the card on both Android and iOS platforms, enabling customers to select which cryptocurrency wallet they will use to fund their spending.