VISA card near a POS terminal. Source: bizoo_n - stock.adobe.com

Key Takeaways:

Instant Access: Coinbase and Visa now enable instant deposits, withdrawals, and crypto purchases for U.S. and EU customers with eligible Visa debit cards.
Expanded Flexibility: The partnership allows round-the-clock crypto trading and instant cash-outs, tailored to meet regional banking regulations.
Regulatory Backdrop: Launched amid evolving crypto regulations, with EU’s MiCA law in place and U.S. regulatory changes anticipated post-2024 elections.

Coinbase and Visa have partnered to enable real-time transactions for crypto purchases, deposits, and withdrawals for U.S. and EU users with eligible Visa debit cards.

Announced on Oct. 29, this collaboration allows Coinbase users with qualifying Visa cards to instantly transfer funds in and out of their accounts and make direct crypto purchases.

Visa customers with eligible debit cards will be able to deposit funds into their Coinbase Global accounts — sometimes instantly — via a partnership announced by the payments giant and crypto exchange https://t.co/WK3LTl1ibc
— Bloomberg Crypto (@crypto) October 30, 2024

Additionally, users can quickly cash out from Coinbase to their bank accounts, subject to regional banking system limitations.

Visa’s North America head, Yanilsa Gonzalez Ore, emphasized that this service allows eligible Coinbase users to capitalize on market opportunities anytime.

This partnership follows the 2022 FTX collapse, which created skepticism among traditional finance entities about crypto.

Excited for Visa to partner with @coinbase to help them utilize Visa Direct to fund Coinbase accounts and enable real time cash outs https://t.co/aA9l6ZvwHm
— Cuy Sheffield (@cuysheffield) October 30, 2024

However, Coinbase’s operations in the EU are now guided by the Markets in Crypto-Assets Regulation (MiCA), providing a clearer regulatory framework.

In the U.S., Coinbase and other crypto firms are supporting electoral campaigns, anticipating that future leadership may establish more favorable regulations.

Visa’s relationship with Coinbase also includes powering its crypto debit card and a recent partnership with FV Bank for a crypto-compatible Visa debit card.