Coinbase’s Visa debit card has broadened its scope by adding support for XRP and four other digital coins. These additions, announced by Coinbase Card on Thursday, include Brave browser’s basic attention token (BAT), Augur (REP), Stellar (XLM), and 0x (ZRX).
Coinbase, founded in 2012, is one of the leading cryptocurrency exchanges globally, known for its user-friendly interface and stringent security measures. It offers a platform for buying, selling, and storing various digital currencies, catering to both individual investors and institutional clients. The exchange has garnered a reputation for reliability and transparency, attracting millions of users worldwide.
Over the years, Coinbase has expanded its services to include a range of products beyond the basic exchange platform. This includes Coinbase Pro, a more advanced trading platform tailored to experienced traders, as well as Coinbase Wallet, a non-custodial wallet solution that allows users to have full control over their private keys.
Coinbase’s foray into the debit card space with Coinbase Card marks a significant step in bridging the gap between traditional finance and the world of cryptocurrencies. By enabling users to spend their digital assets directly from their Coinbase accounts, the card facilitates mainstream adoption of cryptocurrencies as a means of payment.
The Coinbase Card, initially launched in April, empowers users in the UK and EU to utilize their cryptocurrencies directly from their Coinbase accounts. It started with facilitating transactions in bitcoin (BTC), ether (ETH), bitcoin cash (BCH), and litecoin (LTC).
JD Millwood, head of marketing at Coinbase UK, highlighted the card’s impact since its inception earlier this year, mentioning its role in enabling tens of thousands of users to seamlessly spend their crypto holdings akin to traditional bank transactions. He also noted the anticipation of increased demand with the holiday season approaching.
In addition to expanding its coin support, Coinbase Card has extended its geographic reach to include ten more European countries, totaling 29 nations where it’s now accessible. The newly added countries encompass Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden.