Visa partners with Coinbase to offer instant deposit services, allowing US and EU crypto users to fund their accounts and respond quickly to market changes. This collaboration, powered by Visa Direct, aims to streamline the funding process by reducing wait times and enabling real-time cash outs for Visa cardholders, according to an official statement on October 29.
Cuy Sheffield, Visa’s Head of Crypto, expressed excitement about the partnership, emphasizing the benefits of utilizing Visa Direct for real-time funding and cash outs. Yanilsa Gonzalez-Ore, Head of Visa Direct North America, highlighted the advantages of the new feature, stating that eligible Visa debit cardholders can take advantage of trading opportunities at any time.
The instant deposit feature complements Coinbase’s existing Visa debit card, launched in October 2020, which allows US exchange users to spend Bitcoin and other cryptocurrencies for everyday purchases or ATM withdrawals, converting crypto to cash as needed.
This partnership is another step in Visa’s growing involvement in the digital assets industry, following collaborations with companies like Crypto.com, Circle, and Solana. Visa recently launched the Visa Tokenized Asset Platform, which allows financial institutions to create and manage fiat-backed tokens like stablecoins. Market observers believe these moves demonstrate Visa’s steady progress toward integrating crypto with conventional financial services, fostering broader adoption and ensuring smoother transactions within the digital asset ecosystem.
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