Visa and Coinbase have launched a new partnership enabling U.S. and EU customers with eligible Visa debit cards to instantly buy, deposit, and withdraw cryptocurrency on Coinbase. Announced on October 29, this collaboration enhances the convenience for Coinbase users by offering real-time transfers for crypto transactions, depending on bank and regional support.
How Instant Crypto Transactions Benefit Coinbase Users
With millions of Coinbase users already linked to Visa debit cards, this partnership provides a quicker way to capitalize on trading opportunities. Yanilsa Gonzalez Ore, head of Visa Direct in North America, emphasized that the partnership allows Coinbase customers to make instant crypto purchases or cash out around the clock, ensuring they don’t miss out on trading moments due to transfer delays.
The move is particularly significant as traditional finance has pulled back from crypto partnerships following the 2022 collapse of FTX, which led to a banking crisis in early 2023. Now, with clearer regulatory frameworks like the EU’s Markets in Crypto-Assets Regulation (MiCA), companies like Coinbase can operate with better-defined guidelines in the region.
Crypto Regulations and Visa’s Continued Expansion
In the U.S., Coinbase and other crypto firms are heavily lobbying for favorable regulations, as both the presidential and congressional elections approach. Many in the industry expect pro-crypto legislation from the next administration, regardless of the election outcome on November 5.
Visa has a history of integrating crypto into its services, providing Coinbase-powered crypto debit cards that let users spend digital assets through Visa’s extensive merchant network. The payments giant also recently struck a similar deal with FV Bank, supporting the fintech’s debit cards that can be funded with both crypto and cash, further solidifying Visa’s commitment to digital asset accessibility.
