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Coinbase Launches Its Crypto Debit Card in Six More European Countries

Coinbase expands its Coinbase Card to new countries

Coinbase has recently revealed that it is launching its Coinbase Card in six new European countries. Along with this, Coinbase has also announced that it saw exceptionally strong demand for its crypto debit card during its preliminary launch in the UK.

Coinbase expands Coinbase Card to six new European markets

This news comes from a fresh CNBC report. The CNBC piece details how the digital cryptocurrency exchange behemoth Coinbase is now ramping up to a broader launch of its cryptocurrency-based Visa Coinbase Card.

As of Wednesday this week, Coinbase Card will reportedly be available in Germany, Italy, France, Spain, Ireland and the Netherlands. Notably, this is in addition to the United Kingdom, where the Coinbase Card made its debut back in April.

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The Coinbase Card is a Visa-compatible cryptocurrency debit card linked to users’ Coinbase accounts. As such, the card enables users to spend cryptocurrency from directly from their Coinbase accounts in stores that accept Visa.

The card is available both as a physical card, as well as a mobile application for either iOS or Android. The physical card is reportedly able to withdraw fiat currencies from ATMs. What’s more, the card comes with broad functionality for spending cryptocurrencies.

Crypto debit cards are important for boosting cryptocurrency adoption

Users can use the mobile application to decide what sort of cryptocurrency, such as Bitcoin, Ethereum and Litecoin, they want to spend during their purchases. Coinbase’s UK CEO, Zeeshan Feroz, detailed the dramatic impact this can have on making cryptocurrency payments more seamless. 

“You can buy groceries on Bitcoin and then coffee on Litecoin right after,” Feroz told CNBC. This showcases how the Coinbase Card can allow users to practically use cryptocurrencies for everyday purchases – without cryptocurrency-supporting retailers. 

Crypto debit cards are widely seen as one of the stop-gap measures needed to boost cryptocurrency adoption. Put simply, general retailers are hesitant to introduce cryptocurrency support before the public wants it, and the wider public will not want it unless retailers support it.

As a result, cryptocurrency debit cards – such as the Coinbase Card – can be important to bridge this gap. Feroz noted Coinbase has seen “extremely strong take-up” of Coinbase Card since it launched in the UK in April. 

Although Feroz did not reveal any specific figures, he noted Coinbase “blew past” the initial supply of 1,000 cards. 

Image Source: The Coinbase Blog

Ledger Nano S - The secure hardware wallet