Coinbase, Visa’s Direct Funding Rapidly Growing Demand for Bitcoin

US publicly listed crypto exchange Coinbase has rolled out real-time financial support to its clients in the US and Europe in a strong market that has seen increased trading activity in recent days.

By integrating with Visa Direct, Coinbase users with eligible debit cards can now deposit funds into their Coinbase account instantly, eliminating traditional delays in transferring funds, Visa said in a statement. press release Tuesday.

It comes as the price of Bitcoin, the world's largest crypto by market capitalization, He was elevated. Tuesday's close to $73,700 below March. Exchanges like Coinbase collect revenue from speculating on the asset class, and typically earn high payouts on rising crypto prices.

With millions of users using debit cards linked to their Coinbase account, the companies said the new functionality will allow users to more easily take advantage of trading opportunities.

Visa Direct and real-time account funding using an eligible Visa debit card means those Coinbase users with a Visa debit card know they can take advantage of transaction opportunities day and night. North America, in the description.

In addition to real-time deposits, users can also purchase cryptos directly with their Visa debit cards and withdraw funds directly to their bank accounts.

The new service complements Coinbase's existing Visa Debit Card, which is available to US customers. Coinbase kick off By October 2020, the card will allow users to spend Bitcoin and other cryptos on online and in-store purchases and convert crypto to cash at ATMs.

The integration with Visa Direct comes two weeks after Coinbase It ended Paycheck Direct Deposit is a feature that previously allowed users to pay part or all of their paychecks in crypto.

The exchange “expects to deliver a better retail direct deposit experience in the future,” despite complaints from users about the feature's abrupt end, he said at the time.

Edited by Sebastian Sinclair.