Coinbase now offers 'instant' withdrawals via Visa and Mastercard

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.

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“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.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.