Coinbase now offers 'instant' withdrawals via Visa and Mastercard
October 2, 2020, 1:15PM EDT
1 min read
Crypto exchange Coinbase is now offering “instant” withdrawals in nearly 40 countries, including the U.S. and the U.K.
The new feature is being facilitated via Visa and Mastercard. Coinbase said its customers in the U.S., the U.K., and Europe would be able to withdraw funds with a linked Visa debit card. In the U.S., they will also be able to withdraw with their Mastercard.
“By enabling real-time card withdrawals through the Visa Direct capability, Coinbase is delivering a faster, simpler and more connected experience for its users — making it easier to convert crypto balances into fiat, which can be spent at the more than 60M [million] merchant locations where Visa is accepted,” said Terry Angelos, SVP and global head of fintech at Visa.
Sherri Haymond, executive vice president of digital partnerships at Mastercard, said Coinbase would leverage Mastercard Send, allowing its customers to withdraw and use their funds wherever Mastercard debit is accepted.
Coinbase said it would charge U.S. customers a 1.5% fee (minimum $0.55) and up to 2% to its U.K. and European customers for instant withdrawals.