What happened?
Cryptocurrency exchange Coinbase integrates the 'Visa Direct' network, allowing eligible Visa debit card users in selected regions to instantly deposit funds into Coinbase accounts.
In addition to instant fund deposits and cryptocurrency purchases, users can also immediately withdraw funds to their bank accounts.
The collaboration between Visa and Coinbase not only provides convenience for users but also deepens the connection between traditional finance and blockchain technology.
Visa and Coinbase collaborate to allow cardholders to deposit funds instantly.
Financial giant Visa recently announced a partnership with cryptocurrency exchange Coinbase to integrate the 'Visa Direct' network, allowing Visa users in the United States and the European Union to instantly deposit funds into their Coinbase accounts, avoiding waiting periods.
With millions of users, Coinbase currently offers functionality for binding basic debit card deposits and withdrawals, but this collaboration can provide eligible cardholders with more 'instant' transfer capabilities, addressing the slow fund flow issue in dynamic markets.
In addition to instant fund deposits and cryptocurrency purchases, users can also immediately withdraw funds to their bank accounts. Yanilsa Gonzalez Ore, Director of Visa Direct North America, stated that this collaboration allows users to 'seize trading opportunities anytime, anywhere,' making cryptocurrency trading no longer limited by fund waiting.
Akash Shah, Senior Director of Product Management at Coinbase, emphasized that the instant access to funds supports Coinbase's mission to enhance economic freedom. Through Visa Direct, users can manage their fund flow at any time, increasing transaction flexibility.
Deepening the connection between traditional finance and the cryptocurrency market.
The cryptocurrency market faces challenges in integrating into traditional payment systems due to significant volatility and scandals such as fraud. However, Bloomberg points out that the collaboration between Visa and Coinbase indicates that the market is moving toward a more stable direction. As cryptocurrency regulations become clearer globally, especially with anticipated policy changes in the United States, cryptocurrency payments may achieve broader applications in the future.
The collaboration between Visa and Coinbase not only allows users to enjoy the convenience of instant fund transfers but also deepens the connection between traditional finance and blockchain technology. Such innovative cooperation could potentially become one of the standard models of future payments.
[Disclaimer] Markets are risky, and investments should be made cautiously. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article are suitable for their specific situation. Invest at your own risk.
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