Coinbase Becomes First Crypto Company Granted Visa Principal Membership

As the cryptocurrency sector continues to grow, its synergy with the traditional sector also increases. This helps adoption as traditional financial consumers are more in tune with the sector.  One of the world’s largest crypto exchange platforms Coinbase has announced that it is now a principal member of multinational payment processing giant, Visa.

Coinbase and Visa were already in business before now. The exchange offers its customers a debit card powered by Visa which allows holders to transact business using ten different digital assets.  They include Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Stellar (XLM), and Basic Attention Token (BAT) among others. The Coinbase Card was launched in the UK in April last year and is now available in 29 markets. The card also allows customers to make withdrawals from ATMs for a small fee.

According to the announcement, Coinbase plans to offer more features to its customers, in its quest for mainstream crypto adoption. Coinbase is also the first crypto company to become a principal member of Visa. The announcement said:

“This membership will enable us to offer more features for Coinbase Card customers; from additional services to support in more markets – all elements that will help to evolve and enrich the cryptocurrency payment experience.”