Connect with us

News

Coinbase teams up with Visa to launch Coinbase Card

Avatar

Published

on

Coinbase launches Coinbase Card to help users spend spend cryptos effortlessly
Source: Pixabay

In what is a huge development in the plan to fuel wider cryptocurrency adoption among regular people, the American cryptocurrency exchange, Coinbase, announced the launch of “Coinbase Card.” The “Coinbase Card” will allow users in the U.K. to spend cryptocurrencies “as effortlessly as money in the bank.” This huge step forward follows Coinbase’s partnership with major global payments processor, Visa.

The “Coinbase Card” is a Visa debit card powered by customers’ Coinbase crypto wallet balance. With this card, users can pay in-store directly and make purchases. Coinbase converts the crypto to fiat, which is then transferred to the vendors.

According to the blog on Medium, the card is yet to be released to the public and will have an issuance fee of £4.95. Users can download the iOS and Android app to link their Coinbase wallet to the card. The blog further stated,



“This is the first debit card to link directly with a major cryptocurrency exchange in the UK and EU, allowing users to spend their crypto balances direct from their Coinbase account”

Further, the card was issued by issued, authorized and regulated as an electronic money institution, Paysafe Financial Services Limited. Coinbase also revealed that it will be opening up these services to other customers across Europe soon.

Although the transfers aren’t exactly peer-to-peer, the dream of using cryptocurrencies for retail purchases in the real-world is inching a lot closer to reality, following Coinbase’s announcement.





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Altcoins

Binance Chain’s first project Mithril to launch with MITH/USDT trading pair

Namrata Shukla

Published

on

Binance Chain's adds Mithril as its first project followed by MITH/USDT trading pair
Source: Pixabay

Binance launched its blockchain protocol on April 18 and it already has its first project launch on its network. Mithril, a decentralized social media platform will migrate to Binance Chain. The company’s MITH token, that ranks 121st on CoinMarketCap will transfer from ERC20 to Binance’s BEP2 standard.

Binance Chain has been a highly anticipated project in the crypto world since its announcement and with its launch, the community provided ample support to the move. According to reports, Binance is luring companies into migrating to their new native chain and leave Ethereum.

According to Mithril’s blog post, the migration commenced after the mainnet launch of the Binance Chain and informed the MITH holders that the deposit and withdrawals on Binance.com will be halted for the initial 12-hour migration period, however, trading will continue. The post added:



“Once the initial migration of ERC20-based MITH to BEP2 MITH is complete, Binance users will be able to withdraw MITH to BEP2 wallets, such as the Ledger Nano S, and begin trading on Binance DEX. ERC20 versions of MITH held in private ETH wallets or on other exchanges will not be impacted.”

As Mithril announced about its migration to Binance chain, the price of MITH, Mithril’s native coin saw a surge. The coin also saw a 70% hike,  followed by a market correction. At press time, MITH was valued at $0.0782 with a market cap of $40 million. The 24-hour trading volume of the coin was $108 million as it pumped by 67.10% over the past day. In the past seven days, the coin noted a surge of a massive 81.47%, which started to dip by 0.84% over the past hour.

Following the addition of the project, Binance announced the listing of MITH/USDT trading pair, which will start trading on April 19, 10 AM UTC.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending