Digital currency exchange Coinbase announced Wednesday its Visa debit card will launch in Europe after debuting in the U.K. in April.
Coinbase U.K. CEO Zeeshan Feroz told CNBC in an interview the goal of the card is to make payments with digital currencies as seamless as paying with cash.As of Wednesday, the "Coinbase Card" will be available in Spain, Germany, France, Italy, Ireland and the Netherlands. Feroz said the card has seen "extremely strong take-up" since it launched in the U.K. in mid-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.
Start-ups, banks and tech companies are increasingly trying to make crypto payments and trading more accessible. Coinbase rival Binance, one of the world's largest cryptocurrency exchanges, partnered with fintech firm Simplex to offer debit and credit card payments with crypto earlier this year.
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