Coinbase received a Visa Principal Membership status

Visa grants membership to a crypto company for the first time. Source:? shutterstock.com

Coinbase has become the first pure-play crypto company approved as a Visa Principal Member. Visa membership will enable the crypto company to improve its customer experience, making it easier to spend cryptocurrency on a daily basis.

The collaboration between Visa and Coinbase began in 2019 with the launch of a Coinbase Card in the UK. A Visa debit card allows customers to spend their crypto as easily as the money in their bank account.

Nine months later, the card became available in 29 markets, allowing customers to pay for goods including public transport with 10 cryptocurrencies. Most of the customers use a Coinbase Card in the UK, Italy, Spain, and France.

SEE ALSO:

• 5AMLD: how the new EU legislation will affect crypto business
• Lightning Network: what it is and how it works
• Amazon Prime Rewards Visa Signature Card review