The US-based cryptocurrency firm Coinbase had launched the Coinbase Visa debit card for European customers earlier. The crypto firm also disclosed that the crypto card is now being leveraged in 30 different countries within the U.K. and Europe. This week, the company announced that American residents can now register for the crypto Visa card. The company announced that customers in the U.S. could join the waitlist for Coinbase Card, a Visa debit card that allows crypto to be used for payments and purchases online and in-store.
Coinbase card will allow people to spend with nine different cryptocurrencies.
According to the announcement, the Coinbase crypto card will allow people to spend with nine different cryptocurrencies. Similarly to competitor cards from firms like Crypto.com, U.S. card users will be able to obtain purchase rewards from Coinbase. The crypto firm revealed that cardholders would be able to earn up to 4% back in stellar or 1% back in bitcoin. American Coinbase card applicants must be fully verified on the system, and there will be a wait time until the firm makes its first approvals.
“Users can utilize the virtual Coinbase Visa as soon as they are approved.”
The Coinbase card will also provide a virtual card. The firm detailed during the announcement that users can utilize the virtual Coinbase Visa as soon as they are approved. “The first customers will be approved this winter,” the crypto firm disclosed. “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.”
There is no fee required to issue the card, but standard crypto conversion fees may apply, Coinbase noted. The cryptocurrency card is powered by Marqeta, and issued by the FDIC member Metabank.