Coinbase, First Crypto Company Approved as Visa Principal Member
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Coinbase, First Crypto Company Approved as Visa Principal Member

February 19, 2020      Tarulika Jain

As per the latest blog post, Coinbase has become the first pure-play crypto company to be authorised as a Visa principal member. The membership with Visa facilitates to improve customer experience and will aid in spending cryptocurrency in everyday situations.

The Successful Journey Of Coinbase

Launch of Coinbase Visa Card in the UK (2019), started the engagement of Coinbase with Visa. The debit card allowed the customers to easily transact the crypto coins, similarly as the fiat currency in account. After the success of Debit Card, Coinbase made the card available to the customers of 29 markets across the world.

Today’s announcement was a proud moment for Coinbase as it became the first company in the crypto space to be granted principal member of Visa. The strategic relationship will boost the power of cardholders. The expensive middleman needed to issue debit card will be slack down, which aids the users to spend their Bitcoin, Ether and XRP anywhere Visa is acceptable.

The principal membership provided the power to issue a debit card for others which includes crypto companies and traditional alike firms. The recent announcement marks the new revenue stream for Coinbase. The payment giant Visa will ultimately enrich the experience of crypto transactions.

Visa As Facilitator For Easy Transactions

Zeeshan Feroz, CEO of Coinbase UK, stated that direct access to the network of Visa aids in creating the more flexible business models in cryptocurrency exchange. The direct membership allows the company to control the issuance of Debit Card.

Terry Angelos, global head of Visa’s fintech, explains that new membership would expand the network of Coinbase as they can access APIs of Visa. The recent and upcoming moves of Visa in the crypto industry can open the floodgates for new investments.

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Tarulika Jain
Tarulika Jain

Tarulika is an engineering graduate and an eloquent crypto blogger. Being a digital economy supporter, she keeps herself updated with the latest innovation in the crypto industry, Blockchain Technology, Internet of Things and other technologies. Currently, she curates the simple and interesting content for Crypto guides for beginners. If you want to learn more about the cryptocurrencies, latest trends of blockchain-powered AI applications, you are free to follow her on LinkedIn and Twitter.