Major U.S.-based crypto platform Coinbase has launched the Coinbase Card, a debit card that lets U.K. customers make purchases online and in-store using cryptocurrency.
The new card will link the customers’ crypto balances held on the Coinbase platform with their debit cards — converting crypto holdings into fiat currencies to complete each transaction.
The Coinbase card gives users the ability to make payments via “contactless, Chip and PIN, as well as cash withdrawals from ATMs,” an official press release from the exchange states.
The debit cards will be issued by Paysafe Financial Services Limited, a U.K.-based financial services firm regulated by the Financial Conduct Authority (FCA).
Per the release, the Coinbase Card can be used by users irrespective of the token in their portfolio.
“Coinbase Card supports all crypto assets available to buy and sell on the Coinbase platform, meaning they can pay for a meal with bitcoin, or use ethereum to fund their train ticket home,” the company notes.
In an interview with The…