Coinbase Launches Crypto Visa Card in Six European Markets

Coinbase Cryptocurrency Bitcoin Ethereum Litecoin Visa card

Leading cryptocurrency exchange platform Coinbase has rolled out a Visa debit card to customers across several European countries, providing consumers with greater flexibility for spending their cryptocurrency in the everyday retail environment.

The service has been launched in six European countries — Spain, Germany, France, Italy, Ireland and the Netherlands — following the successful introduction of the scheme into the U.K. back in April.

Customers can choose whether to spend bitcoin, ethereum or litecoin through their card, and can change balances between cryptocurrencies at any time to suit their preferences.

The prepaid Visa card was reported to have been successful with U.K. Coinbase customers, with the firm reporting strong uptake from its users.

Customers can receive a Coinbase Card linked directly to their Coinbase account, allowing them to pay for goods and services in both physical and online stores as they would with any other card, wherever Visa is accepted.

The scheme is expected to make it more convenient for users to spend cryptocurrency on day-to-day transactions, following on from the success of the U.K. pilot launch earlier this year.

While no usage figures have been released by Coinbase, the firm’s CEO said the numbers “blew past” the 1,000 free promotional cards issued to its users, and surpassed their expectations ahead of the launch.

The card links up with a mobile app where users can stipulate the cryptocurrency balance they want to use to fund transactions. Coinbase converts funds on demand from the selected cryptocurrency balance to fiat, and charges a fee for the instant conversion.

The merchant is paid in local currency, indistinguishable from any other Visa debit card payment.

Coinbase was founded in 2012, and has grown to become arguably the most well-known wallet and exchange service for retail cryptocurrency users.

The launch of the new Coinbase Card will bring the flexibility for consumers to spend crypto across these key European markets, with the firm expected to be eyeing a broader rollout into new territories over the coming months.

Coinbase has partnered with U.K. payment card services provider Paysafe in issuing the cards. The card is available for a one-off issuance fee of €4.95 through the Coinbase platform.