Crypto Exchange Coinbase Unveils Its Debit Card in Romania

Crypto Exchange Coinbase Unveils Its Debit Card in Romania

Coinbase, one of the leading digital currency exchanges in the world, has recently unveiled its debit card in as many as 10 European nations, including Romania. The other nine nations where the Coinbase card has been made available are Bulgaria, Denmark, Croatia, Iceland, Hungary, Poland, Norway, Liechtenstein, and Sweden.

The exchange, headquartered in California’s San Francisco, had launched its Visa debit card, referred to as Coinbase Card, back in April this year to cater to customers across the EU and the UK region. The card allows the customers to spend their digital currencies directly from the accounts they hold at the exchange. It converts digital currency to fiat “instantly” whenever a customer completes a transaction through the debit card, the company had said at the time.

In addition to the card launch in 10 nations, the exchange has also added payment support for more cryptocurrencies for the card product, taking the total to 9. The newly added cryptos are XLM (Stellar), XRP, BAT (Basic Attention Token), ZRX (0x), and REP (Augur). It is vital to note that support for BTC (Bitcoin), ETH (Ether), LTC (Litecoin), and BCH (Bitcoin Cash) was already offered to the cardholders.

Coinbase also facilitates the use of the card for cash withdrawals at ATMs. The company said that both Over the Counter (OTC) and ATM withdrawals that exceed the value of €200 per month are charged a 1% fee for domestic transactions and a 2% fee for international transactions. Users should note that there are no fees for domestic purchase transactions with the card.

In a statement, Coinbase UK’s CEO, Zeeshan Feroz, said that by launching the card in 10 new nations as well as adding more assets to spend through the Coinbase Card, the company has continued driving cryptocurrency’s role as a utility, and not merely as an investment.