Visa Partners with Coinbase for Instant Fund Deposits via Debit Cards
Visa Inc. has announced a partnership with Coinbase Global Inc. that allows customers with eligible debit cards to deposit funds into their Coinbase accounts, sometimes instantly. While Coinbase already connects millions of customers to debit cards, this new collaboration enables real-time fund transfers for users in the U.S. and European Union, according to a Tuesday statement.
Yanilsa Gonzalez Ore, head of Visa Direct for North America, noted that eligible Visa debit cardholders can now “take advantage of trading opportunities day and night.” The partnership allows customers to purchase cryptocurrencies on Coinbase using their eligible debit cards and to withdraw funds from the platform directly to their bank accounts via the card.
The digital asset sector has historically faced challenges in accessing traditional banking and payment systems due to concerns about market volatility and industry scandals. However, with global crypto regulations becoming clearer, the upcoming U.S. administration may further solidify these frameworks, potentially alleviating some existing obstacles.
In parallel, Coinbase is intensifying its efforts to clarify U.S. cryptocurrency regulations by filing two Freedom of Information Act (FOIA) requests against American regulators. These requests seek information about a reported 15% cap on bank deposits from crypto companies imposed by the Federal Deposit Insurance Corporation (FDIC), a rule that Coinbase claims was enacted without public consultation.
Coinbase’s latest financial results are expected to be released after Wednesday’s trading session, with Wall Street analysts closely monitoring quarterly trading volumes, which are anticipated to have declined amid rising competition.
