Visa announces new partnership with Coinbase to provide enhanced funds transfer capabilities to eligible Coinbase users in the US and EU. Integration with Visa Direct allows Coinbase customers to instantly deposit funds using their Visa debit card.
Visa Direct is a payment network that allows businesses and individuals to send and receive money directly to Visa-branded cards in real time. This means you can quickly transfer funds to friends, family, and employees, and receive payments from businesses for refunds, rebates, and other purposes. Visa Direct supports both credit and debit cards, making it a versatile solution for a variety of financial transactions.
Coinbase, a platform that already has millions of users linked to debit cards, has added this service to its offering due to the growing demand for instant access to funds. Yanilsa González Ole, Head of North American Visa Direct, said the integration will enable eligible Coinbase customers to take advantage of trading opportunities at any time, improving the user experience through more streamlined financial access.
In addition to enabling real-time deposits, this partnership also supports instant cash-out to bank accounts through Visa Direct, provided the user has an eligible Visa debit card. Akash Shah, Coinbase’s senior director of product management, said the new service is in line with Coinbase’s goal of providing users with greater financial control and improving financial access.
It is worth noting that Coinbase also offers the Coinbase Visa Debit Card, also known as the Coinbase Card. This card is available in several European countries (including the UK) and the US (excluding Hawaii).
Featured image via Coinbase
