Coinbase granted Visa principal membership, pushing for cryptocurrency financial cards to go mainstream

While mainstream exchanges are busy launching various crypto derivatives, Coinbase continues to expand its presence in the payment field. It announced yesterday that it has officially become the first crypto industry institution to be included as a major member of Visa. This will enable Coinbase to have the qualifications of an issuing and acquiring institution, and thus handle credit card-related businesses like traditional banks.

• Coinbase and Visa Drive Cryptocurrency Payments
• KNC Soars 21% After Being Listed on Coinbase

Innovations in Crypto Industry

According to Coinbase's official Blog, Coinbase launched the Coinbase Card in the UK back in April 2019, allowing users to spend 10 different cryptocurrencies at millions of stores. The highest adoption rates are in the UK, followed by Italy, Spain, and France.

Coinbase obtaining Visa membership is a significant milestone, as it will enhance user experience, making it easier to use cryptocurrencies for everyday transactions and bringing them closer to mainstream adoption.

Coinbase stated in their Blog:

We are proud to be the first crypto ecosystem to be granted Visa principal membership. This enables us to offer more features for Coinbase Card customers, including expanding services to more markets, advancing and enriching the cryptocurrency payment experience.

Kyber Network (KNC) Listing

In addition to the Visa membership, Coinbase announced today the listing of decentralized exchange Kyber Network, with its token KNC surging by 21%.

On January 10th, Coinbase also announced the listing of cross-chain project Cosmos (ATOM), which saw a 7% increase on the same day.

Currently, major exchanges offer a wide range of trading pairs for various competitive coins. Coinbase may have realized its lag in this aspect compared to other exchanges and has therefore accelerated the listing process in recent months.

Further Reading

• "Democratic Primaries" Billionaire Bloomberg Proposes Cryptocurrency Framework, Presidential Futures Soar on US Exchanges
• Paying with "Satoshis" Shows Promise! VISA's Crypto Head: Bitcoin Will Introduce an Era of Internet Micro-Payments

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