Coinbase Introduces Instant Cryptocurrency Purchase Function with Visa Debit Cards

This innovation makes crypto purchases even more accessible for users in the US and the EU. Coinbase has previously supported debit card transactions, but the new feature allows transactions to be made instantly, and also makes it possible to instantly withdraw funds from the exchange to bank accounts.

For Visa, this is another step in the development of the cryptocurrency direction. Thus, recently the company, together with the blockchain platform Avalanche and the fintech company Rain Liquidity, launched a credit card that supports several cryptocurrencies, including AVAX, WAVAX, Bitcoin, Ethereum and the USDC stablecoin. The credit card is based on Visa and is accepted at any point of sale that supports this payment system.

In addition, Visa launched the institutional platform VTAP (Visa Tokenized Asset Platform) for the tokenization of real assets, which has already attracted the attention of such large banks as the Spanish BBVA, which is preparing to issue its own stablecoin on the platform in 2025.

In addition, in September, Visa filed applications for registration of trademarks in the field of crypto assets and blockchain technologies, despite the suspension of activities in Russia since 2022. At the same time, Ether.fi, together with Visa, presented the Visa Cash cryptocurrency card with 3% cashback on all purchases.

Wirex is also collaborating with Visa and is working on the launch of the Wirex Pay Web3 application using zero-knowledge proof (ZK) technology for transactions in the UK and the EU, combining traditional finance and blockchain.

As for Coinbase itself, the exchange is also actively expanding its capabilities. Its second-layer Base network recently set a record for the most stablecoin transactions in a single day, with USDC accounting for the majority of transactions. Coinbase has also added support for sending Bitcoin to Taproot addresses, giving users a higher level of privacy.