Coinbase Card, a debit card that can be used to spend a holder’s cryptocurrency balance on the exchange without having to move funds to bank account, will soon be launching in the US after receiving the necessary regulatory sign-offs. Cryptocurrency is converted to US dollars prior to completing purchases and ATM withdrawals.
The card will be available in all states except Hawaii and comes with a new rewards 4% back in Stellar Lumens (XLM) or 1% back in Bitcoin (BTC). Customers must also have a verified Coinbase account.
The Coinbase Card is issued by MetaBank®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Coinbase Card is powered by Marqeta, has been active in the U.K. and European Union since April 2019 and currently operates in 30 countries, including Denmark, Norway, Sweden, Iceland, Bulgaria, Poland, Hungary, Croatia, Liechtenstein and Romania.
Integrating with Google Pay allows the card to be used immediately prior to the arrival of the physical card and also enables contactless, Chip and PIN payments, and ATM withdrawals.
“Eligible customers can apply via the Coinbase app or on the web. The first customers will be approved this winter. Once customers are approved, they can spend with a virtual card right away and will receive a physical card in the mail within two weeks,” the company’s blog said.
Read more:
- Coinbase Has Released Its First Transparency Report, 90% Of All Requests Come From The U.S., UK, And Germany
- Coinbase Has Released Its First Transparency Report, 90% Of All Requests Come From The U.S., UK, And Germany