Coinbase launches its cryptocurrency debit card in six more countries in Europe
Digital currency exchange Coinbase announced Wednesday its Visa debit card is to launch in six more European countries after debuting in the U.K. in April.
The card comes in a mobile app and syncs directly with Coinbase accounts. It is also available as a physical contactless card that can be used to withdraw cash from ATMs.
Users can decide which cryptocurrency they would like to use to make a payment in the mobile app. Rather than paying retailers directly with crypto, Coinbase charges users a fee to convert fiat money, like the euro, into a digital currency.
California-headquartered Coinbase was most recently valued at $8 billion, according to CB Insights. The company is viewed by some in Silicon Valley as a poster child for the volatile cryptocurrency market. Amid a slump in prices for digital currencies earlier this year, Coinbase reportedly laid off more than a dozen workers in its Chicago office.
Feroz said Coinbase hopes to expand the card into other markets but needs to find the right banking partners.
“We will be looking at all of our key markets including the U.S.,” he said.
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