Visa and Coinbase Team Up for Instant Crypto Transactions

Visa has partnered with Coinbase to enable eligible debit card users to instantly deposit and withdraw funds on the exchange.

This service, available to customers in the U.S. and EU, allows real-time transactions for purchasing crypto and cashing out to bank accounts, depending on regional banking conditions. Visa’s announcement on October 29 highlighted that Coinbase already connects millions of users with debit cards, enhancing trading opportunities for those looking to capitalize on market fluctuations.

This partnership emerges amid a stagnation in crypto offerings from traditional finance firms due to the fallout from FTX’s collapse in 2022. The EU’s Markets in Crypto-Assets Regulation (MiCA) is providing clearer guidelines for crypto operations, while U.S. crypto companies are actively influencing upcoming elections to push for favorable regulations.

Visa has previously collaborated with Coinbase on crypto debit cards and has also partnered with FV Bank to support debit cards funded by crypto and cash.

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The collaboration signifies a broader trend where traditional financial institutions are increasingly integrating with the cryptocurrency space, aiming to regain consumer confidence and adapt to the growing demand for digital assets. As more companies seek to bridge the gap between crypto and traditional finance, this partnership not only enhances Coinbase’s offerings but also positions Visa as a leader in the evolving financial landscape.

Kosta Gushterov