Connect with us

News

Coinbase takes the Eurail; expands crypto-debit card services to six more European countries

Sahana Kiran

Published

on

Source: Pixabay

San Francisco-based cryptocurrency exchange Coinbase, expanded its services after debuting its Visa debit card in the U.K. in April. The exchange has now taken a step further after it announced the launch of its Visa debit card in six more European countries.The Coinbase card enables users with Coinbase accounts to spend cryptocurrencies in stores and online, at any merchant that accepts Visa.

The Coinbase card will now be available in Germany, France, Spain, Ireland, Italy and the Netherlands. The card allows users to make payments and spend digital currencies like Bitcoin, Ethereum, Litecoin, etc. for the purchase of goods and services.

Coinbase’s U.K CEO, Zeeshan Feroz, had this to say about the latest development,

“You can buy groceries on Bitcoin and then coffee on Litecoin right after.”

He also added that the goal of the card is to make payments with digital currencies as seamless as paying with cash.

The card is also available on a mobile app which syncs directly with Coinbase accounts. Physical contactless cards that can be used to withdraw cash from ATMs are also available. However, Coinbase will charge its users a fee to convert fiat money into cryptocurrencies.

Feroz added that the Coinbase card recorded an extremely positive reception since its launch in the U.K., as the company quickly blew past the initial 1,000 cards it had offered for free to users. Coinbase hopes to expand the card into other markets, but is presently on the lookout for the right banking partners.

“We will be looking at all our key markets including the U.S,” Feroz added.

Coinbase was in the news recently after a report revealed that the U.S-based exchange and Binance shared a lion’s share of the global exchange trading volume. Further, CEO Brian Armstrong made good on his 17-month promise, and revealed that batched transactions were coming soon to Coinbase.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Sahana is a journalism graduate, who is currently experiencing the work life. She has writing experience in print media and is here to explore the crypto world.

Altcoins

Ampleforth could help create next-gen synthetic commodities for portfolio diversification, claims Blockfyre report

Avatar

Published

on

Ampleforth could help create next gen synthetic commodities for diversification of portfolios claims new Blockfyre report
Source: Unsplash

Ampleforth was the first token to successfully complete an IEO on Bitfinex. This IEO caught the attention of a lot of users in the cryptospace, as the $5 million hard cap was sold out within the first 11 seconds. A new report by Blockfyre details how Ampleforth could pave the way for a new asset class for portfolio diversification in the future.

The report also highlighted a feature of Ampleforth that allows a flexible supply that adjusts to the market demand, while price simultaneously finds equilibrium. The token also aims to tackle the strong correlation that most cryptocurrencies share with Bitcoin.

Synthetic Commodity

Ampleforth project has the ability to create synthetic commodities that are disconnected when it comes to price fluctuations due to correlations, which is a common problem faced by both cryptocurrencies and traditional asset classes. Although Bitcoin was created to tackle problems that fiat currency inherently has, it still has some correlation issues.

In a world where traditional assets are widely affected by macroeconomic and global political scenarios, Ampleforth aims to create a new asset class, Synthetic Commodity, to tackle this problem.

The report stated,

“BTC as a synthetic commodity doesn’t show correlation to traditional markets such as stock stocks and bonds. Thus it reflects a potential good investment for portfolio diversification, in order to tackle macro-economic recession”

Although BTC is an uncorrelated asset, other cryptocurrencies are widely correlated to it. Ampleforth’s protocol introduces synthetic assets that “will always find a price-supply equilibrium by adjusting the price due to demand.” The report added,

“It needs to be emphasized, that these price-supply information will always be distributed amongst all token holders, so the supply of all token holders will decrease / increase. As a result, the overall cut of the total supply for each person will always remains the same.”

The report further said that if successful, Ampleforth will directly compete with Bitcoin’s $145 billion market cap and also against traditional asset market-based in fiat.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending