InanannouncementonOct.29,internationalcreditgiantVisaunveiledthepartnershipenablingreal-timemoneymovementbetweentraditionalbankingandcryptoservicesusingtheVisaDirectnetwork.
“ThispartnershipaddsconvenienceandnewservicesforCoinbasecustomersacrosstheUSandEU,includingreal-time,reliable,andsecuremoneymovement,”itstated.
Visa’sheadofcrypto,CuySheffield,commentedonthecollaborationonOct.30.
ExcitedforVisatopartnerwith@coinbasetohelpthemutilizeVisaDirecttofundCoinbaseaccountsandenablerealtimecashoutshttps://t.co/aA9l6ZvwHm
—CuySheffield(@cuysheffield)October30,2024
DayandNightTrading
CustomersoftheexchangewillbeabletodepositfundsintotheirCoinbaseaccountsinreal-timeusingeligibleVisadebitcards,theannouncementadded.
TheVisaDirectnetworkoffersquickandsecuremoneymovements,furtherbridgingthegapbetweentraditionalfinanceandblockchaintechnologiesandhelpingtominimizewaitingperiodsforfundavailability.
HeadofVisaDirectforNorthAmerica,YanilsaGonzalezOre,commentedthat“CoinbaseuserswithaneligibleVisadebitcardknowthattheycantakeadvantageoftradingopportunitiesdayandnight.”
Meanwhile,SeniorDirectorofProductManagementatCoinbase,AkashShah,added,“Bringingthisfeaturetoourcustomerssupportsourmissionofincreasingeconomicfreedomintheworld.”
Collaborationbetweenthetwocompaniesgoesbackto2020whenVisaapprovedCoinbaseasa“principalmember”toimprovecustomerexperiences.Thelatestdevelopmentexpandsontheirexistingrelationship,whichincludestheCoinbaseVisadebitcardforUScustomers.
Thecryptoindustryhasoftenstruggledtotaptraditionalbankingandpaymentrailsduetoconcernsovermarketvolatilityandindustryscandalssuchasthehigh-profilecollapsesin2022.However,ascryptoregulationsbecomecleareracrosstheglobe,someofthosechallengescouldbeeased.
Additionally,cryptoregulations“couldbefirmedupintheUSbythenextadministration,”reportedBloomberg.CoinbaseisamongmanycryptofirmsthathavespentmillionsinfluencingthepresidentialelectionthroughdonationstosuperPACs(politicalactioncommittees.)
CoinbaseEarningsImminent
CoinbaseGlobalisslatedtoreportthird-quarterearningsonWednesday,Oct.30.Analystsexpectthefirmtoreportearningsof45centspershare,upfrom14centsashareinthesecondquarter,accordingtoreports.
TheyalsoexpectthattradingontheplatformforQ3hasbeenstagnantasmarketshaveremainedsidewaysformostofthequarter.
Companystock(COIN)wasup1.65%onthedaytoreact$221duringafter-hourstrading,accordingtoGoogleFinance.Coinbaseshareshavemade40%year-to-datebutremaindown35%fromtheirNovember2021peak,whichcoincidedwiththelastcryptobullmarkethigh.
cryptopotato.com