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Visa users with eligible debit cards will soon be able to instantly deposit and withdraw funds from their accounts with crypto exchange Coinbase, after the two firms announced a partnership.
“Coinbase already has millions of users with a debit card connected to their account,” Visa said in an Oct. 29 <a data-ct-non-breakable="null" href="https://investor.visa.com/news/news-details/2024/Coinbase-to-Integrate-Visa-Direct-to-Deliver-Real-Time-Account-Funding-for-Customers/default.aspx" rel="nofollow noopener" target="_blank" text="null" title="https://investor.visa.com/news/news-details/2024/Coinbase-to-Integrate-Visa-Direct-to-Deliver-Real-Time-Account-Funding-for-Customers/default.aspx">statement</a>. Now, United States and European Union customers will get “real-time delivery of account funds for those using an eligible Visa debit card.”
Coinbase customers with an eligible Visa debit card will also be able to <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/cryptocurrency-on-ramps-and-off-ramps-explained" rel="null" target="null" text="null" title="null">purchase crypto</a> on the platform and cash out funds from the exchange to a bank account in real time — depending on the bank and region.
Yanilsa Gonzalez Ore — head of Visa Direct in North America — said the partnership means “those Coinbase users with an eligible Visa debit card know that they can take advantage of trading opportunities day and night.”
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 Source: <a data-ct-non-breakable="null" href="https://x.com/cuysheffield/status/1851425562474263016" rel="null" target="null" text="null" title="https://x.com/cuysheffield/status/1851425562474263016">Cuy Sheffield</a>
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The move comes in a lull period for crypto offerings from traditional finance firms after FTX’s <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/a16z-executive-regulatory-clarity-needed-stablecoins-avoid-ftx-level-issue" rel="null" target="null" text="null" title="null">massive 2022 blow-up</a> quashed confidence in the sector, tanked crypto markets and led to a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/banking-crisis-what-does-it-mean-for-crypto" rel="null" target="null" text="null" title="null">banking crisis</a> in early 2023.
Still, the EU’s crypto regulatory framework, the Markets in Crypto-Assets Regulation (MiCA), <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mica-laws-crypto-europe-impact" rel="null" target="null" text="null" title="null">began coming into effect</a> earlier this year, offering more legal clarity for crypto asset service providers like Coinbase on how to operate locally.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/binance-connect-crypto-fiat-relaunch" rel="null" target="null" text="null" title="null">Binance Connect relaunches with integrated crypto-to-fiat service</a>
In the US, several major crypto players — including Coinbase — <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-pac-media-buy-wisconsin-election" rel="null" target="null" text="null" title="null">have spent millions</a> influencing the presidential and congressional elections, with many industry pundits now predicting the next administration or Congress will pass pro-crypto regulations, regardless of which candidate clinches victory on Nov. 5.
Visa has long worked with Coinbase by powering its <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/what-are-cryptocurrency-debit-cards-explained" rel="null" target="null" text="null" title="null">crypto debit cards</a>, which give users an outlet to spend their crypto through its network of vendors.&nbsp;
The payments giant inked <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/fv-bank-integrates-visa-crypto-debit-corporate-cards" rel="null" target="null" text="null" title="null">a similar deal</a> with FV Bank on Oct. 28, backing the fintech firm’s debit cards, which can be funded with crypto and cash.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/cryptocurrency-electric-capital-avichal-garg/" rel="null" target="null" text="null" title="null">X Hall of Flame — Coinbase will not mention ‘crypto’ in five years: Avichal Garg</a>

Visa and Coinbase partner for instant crypto buys with debit cards

Cointelegraph

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