Coinbase's Visa principal membership suggests card expansion and new payment initiatives could be on the horizon

According to a blog post by Chargeback Expertz, principal members can play a "pivotal role in being allowed to cross check the eligible businesses for association, and fulfill minimum legal requirements required to establish merchant accounts." Announcing the news on Wednesday, Coinbase said it is the "first pure-play cryptocurrency company" to receive Visa membership. 

Furthermore, members also can have the authority to accept and exchange currencies, with the added benefit of acquiring remote payments, or those not at the point of sale. If members are approved for these functions it means they are also certified by Payment Card Industry Data Security Standard Council (say that 5 times fast), and demonstrates the ability to secure card information with robust data management systems.