Coinbase Users Can Now Buy Crypto Instantly with Visa Debit Cards

In an October 29 announcement, Visa shared that millions of Coinbase users already use a debit card on the platform.

Now, customers in the United States and the European Union who have an eligible Visa debit card will see their funds instantly when deposit and withdraw from Coinbase.

With this new feature, Coinbase users with a qualified Visa debit card also buy crypto quickly on Coinbase and move funds from their account to their bank almost instantly, depending on the bank and where they live.

According to Yanilsa Gonzalez Ore, the head of Visa Direct in North America, this partnership lets eligible Coinbase users take advantage of crypto trading at any time (24/7).

This new feature is being introduced at a quiet time for crypto offerings from traditional finance companies.

After FTX had a huge collapse in 2022, confidence in the crypto sector dropped, causing crypto prices to fall and leading to a banking crisis in early 2023.

However, earlier this year, the EU introduced new crypto rules called the Markets in Crypto-Assets Regulation (MICA). These rules provide clear guidelines for crypto companies like coinbase on how to legally operate in Europe.

In the U.S. Crypto companies like Coinbase have spent millions supporting presidential and Congressional campaigns, hoping that the next administration will pass laws that favor crypto, no matter who wins on November 5.

Visa has been working with Coinbase for a while, helping power debit cards that allow users to spend their crypto at stores that accept Visa.

On October 28, Visa also made a similar deal with FV Bank, a financial tech company, to support its debit cards, which can be loaded with both crypto and regular currency.