The Visa-based debit card of Coinbase, one of the largest cryptocurrency exchanges not only in the USA, but also in the world, will be available in the USA next year. In the statement made by Coinbase, it was stated that the waiting list for users in the USA has been opened and those who want the card have already started to make requests.
Although Coinbase’s debit card was actually launched before, the toughness of the US financial regulators led to the UK and Europe being preferred first. The card, which completed the pilot process in the UK, was later put into use in the European Union.
Coinbase to Refund 1% Bitcoin, 4% XLM
It is not overlooked that the debit card that Coinbase will offer in the USA has a very different feature than the card in the UK and Europe. Coinbase will offer users the opportunity to earn Bitcoin in exchange for spending with the card in the USA. Users will be able to earn 1% Bitcoin or 4% Stellar lumens of their spend.
It is stated that users can spend daily expenses such as coffee or lunch or take advantage of direct online shopping with this card. Stating that the use of crypto coins is very wide, a Coinbase spokesperson stated that it is aimed to reach them with this card. It is stated that the card will be officially available as of the winter period of 2021. The card will be launched within the South Dakota-based MetaBank and will enable payments to be made in partnership with a payment platform called Marqeta.
Only 9 cryptocurrencies were supported on Coinbase cards in the UK and the European Union. The card in the USA will support stablecoins such as USDC in addition to Bitcoin, Litecoin, Ethereum, Bitcoin Cash, XRP, BAT, Augur, 0x and XLM. The daily usage limit of the card is set at $ 2,500. Within the EU and UK, this limit was set at 10,000 Pounds or 10,000 Euros.
After this move, we can see that Coinbase competitor Binance has taken its own card into use in the USA.