On 14th November 2019, Coinbase announced the expansion of its Visa debit card, which will now support five more cryptocurrencies. Coinbase has also included ten new jurisdictions bringing it to a total of 29 European countries.
New Coinbase Visa Debit Card Cryptocurrencies Additions
The newly supported cryptocurrencies include Stellar (XLM), Ox (ZRX), Ripple (XRP), Augur (REP), and Basic Attention Token (BAT). These five coins have joined the other major cryptos already supported by Coinbase; Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). This will enable the users to spend all these listed coins with their visa debit card.
Coinbase cards will now be available for use in Croatia, Bulgaria, Poland, Hungary, Iceland, Denmark, Norway, Romania, Sweden, and Liechtenstein.
Coinbase, whose headquarters are in the United States, launched its visa debit card in the UK on 10th April. The card enables its users to make purchases using their crypto in Coinbase accounts. During a purchase, Coinbase converts the user’s crypto into fiat currency at a fee to ensure the transaction is complete. This card is eligible for use both domestically and internationally, in any station that accepts Visa card.
Significance of Crypto Debit Cards
Crypto debit cards are becoming crucial entities in the crypto space. They help to bridge the gap between cryptocurrencies and fiat currency. Crypto debit cards seem like the closest to crypto adoption as they are making it easier for users to spend their crypto more straightforward.
Looking at the recent news in the crypto space, 2019 has been an excellent year for crypto debit cards. There has been a substantial growth in this sector this year.
Earlier in June, the Litecoin Foundation, in partnership with the Bibox Exchange and blockchain firm Ternio announced the launch of a crypto debit card. Later the same month, crypterium claimed to have shipped about 4,000 crypto debit cards just one week after the crypto debit card was launched. Crypterium is a cryptocurrency payment firm led by a former Visa executive Steven Parker.
Good news for Ripple
Ripple launched a new product RippleNet Home, which will allow customers to connect. In this new platform, companies get to see their payments and performance in real-time, allowing them to improve their capabilities as well as expand their market presence. Through RippleNet Home, companies can evaluate the size of their market and find suitable partners.
Since XRP is one of the cryptos supported by Coinbase in the Coinbase visa debit card, that and the introduction of RippleNet Home, things look greener for XRP and Ripple altogether.