The electronic payments giant, Visa, and the exchange Coinbase launch a new product for the integration of crypto with traditional finance. On this occasion, companies offer an option to convert between cryptocurrencies and traditional money immediately. This tool will only be available to users in the United States and the European Union.
This is a feature that will allow selected users to access this conversion option in real time. Basically, selected people will be able to deposit money into Coinbase which is immediately converted into Cryptocurrency. Both companies continue their joint path of eliminating wait times associated with traditional finance (TradFi).
According to a recent statement from Visa, the objective is to offer users common answers from the crypto world, but within the traditional sector. Likewise, they point out that the Visa Direct network is behind the promotion of this instant commerce engine.
The feature allows selected people to operate in both directions. In that sense, they will be able to withdraw their cryptocurrencies from their wallets and convert them into traditional money. All of this will also be operated immediately. As you can see, this new product launched by Visa and Coinbase could become the norm for businesses in the not too distant future.
Visa and Coinbase aware of new trends
This new initiative is carried out following the new and future trends of users of financial services. The new generation that is entering the world of money does so hand in hand with cryptocurrencies. This fact accustomed them to immediate transactions.
Thus, traditional companies that want to remain competitive maintain an approach in the crypto direction. This implies becoming platforms with easy access to exchange. If you don’t, some companies could be discarded in the future by people looking for immediacy.
From this perspective, the two companies, Visa and Coinbase, seem to have the same vision for the future. “Providing real-time account funding through Visa Direct and an eligible Visa debit card means that Coinbase users with an eligible Visa debit card know they can take advantage of trading opportunities day and night,” the Visa Direct boss commented on North America, Yanilsa Gonzáles-Ora.
With this step, the Visa company takes a new step towards integration with cryptocurrencies. In recent years, the payments and cards giant has been making enormous efforts in this direction. These include partnerships with companies such as Solana, Transak and Circle, among others.
Regarding Coinbase, this firm also advocates integration to take advantage of the millions of users of traditional solutions. Currently, the exchange has a Visa-based card, which allows payments to be made anywhere Visa is accepted. Likewise, with this card, people can withdraw cash at ATMs from their cryptocurrency wallets on that platform.
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