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

Sahana Kiran

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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.





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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.

Ripple

Ripple’s partnership with Euro Exim Bank explores possibilities other than the use of XRP

Namrata Shukla

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Ripple's partnership with Euro Exim Bank explores possibilities other than use of XRP Ripple's partnership with Euro Exim Bank explores possibilities other than use of XRP
Source: Pixabay

Ripple, the real-time gross settlement system, has been working hard towards the adoption of their native cryptocurrency, XRP. While proponents of other cryptos are working towards increasing the use cases of the coin, Ripple took XRP to the banks and provided them with a liquidity solution called xRapid.

Euro Exim bank, an international financial institution, partnered with Ripple in January 2019 to use its services like xRapid and xCurrent. Head of Compliance and Operations of Euro Exim Bank, Graham Bright, stated in an interview with Bloxliv.tv that despite the fact that he worked with SWIFT for 20 years, Ripple would work as a complementary network to SWIFT.

“I don’t believe Ripple is going to replace SWIFT. Ripple is one of the complementary networks which is going to allow those institutions who need real-time to make use of that. We’re also seeing that SWIFT are changing their network capabilities, so real-time will also be a possibility as well but we may also see Ripple XRP moving across the SWIFT network as a currency when we are perhaps using FX.”

Bright also revealed that Euro Exim Bank will be announcing a cryptocurrency exchange soon and it would list various cryptocurrencies and not just XRP. However, their core business remains trading finance.

He also said that Ripple are trying to expand the usage and not restrict it to just using XRP. Euro Exim Bank is currently investigating how to embed instructions for bonds/derivative/foreign exchange inside a Ripple message, he said.

With the cryptocurrency ecosystem booming, Ripple’s XRP has risen, along with its technological services. As for XRP’s performance in the market, it was falling by 1.03% over the day and was valued at $0.4268 with a market cap of $18.14 billion. The 24-hour trading volume of the coin was noted to be $1.22 billion, as it noted a growth of 6.13% over the past seven days and continued to soar by 0.32% within the hour.





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