Coinbase extends crypto-to-fiat Visa card to 6 more European countries, following UK launch

The Coinbase Card is now available for customers in Spain, Germany, France, Italy, Ireland, and the Netherlands to spend crpyto, according to a press release, following its debut in the UK in April.

The Visa-debit card is linked to Coinbase users’ wallets, allowing them to spend their digital assets at millions of Visa-approved merchants. The card instantly liquidates the available crypto in a Coinbase account for the equivalent amount in Euros (or GBP), paying the merchant in fiat.

While Coinbase has not been forthcoming about the card's demand so far, Zeeshan Feroz, CEO of Coinbase U.K., told CNBC it “blew past” the first 1,000 cards issued for free. The card was the first of its kind for a major crypto exchange in the UK. 

The fee structure stands at £4.95/€4.95 for ordering the card, plus 2.49% per purchase. The Visa debit card is issued by PaySafe and can be managed using an iOS or Android app.

A source close to the matter said launching in the US would take much longer than the EU due to regulatory issues.

About Author

Isabel is The Block's London and European reporter. She previously reported for Reuters in Madrid and London, following on from her time as a freelance journalist for the Guardian and the New York Times. She has a Bachelors in War Studies from King’s College London and a Master of Philosophy from the University of Oxford. Conflict of Interest: Edward Woodford, the CEO of SeedCX, is Isabel's brother. She does not report on any issues related to Seed or advise other authors in any regard.