Digital currency platform Coinbase has announced that its Visa debit card is now supported by Apple Pay and Google Pay. This will allow users to spend cryptocurrency as cash.
Apple and Google payment wallets have millions of users globally. The new development will enable users to spend with their Coinbase card via these wallets.
Coinbase offers up to 4% crypto rewards on its card transactions based on the digital currency used. Purchases with Bitcoin can earn 1% while Stellar Lumens can earn 4%.
The platform automatically converts all cryptocurrencies to US Dollars at a lower conversion fee. It transfers these funds to the Visa card for payments and ATM withdrawals.
Users can add their Coinbase card to Apple and Google wallets while waiting for the physical card to arrive. These digital wallets use tokenisation to protect card information and secure payments.
In a statement, Coinbase said: “You can now use your Coinbase Card with Apple Pay and Google Pay to make it even easier to spend crypto at home and on the go.
“Using Coinbase Card with Apple Pay and Google Pay makes it even easier to spend and grow your crypto. This is just the beginning – we’ll continue to build more ways for you to maximise crypto rewards and easily use crypto in your everyday life.”
While the Coinbase Card is already out, several applications are still on the waitlist. Coinbase plans to send invitations to certain customers on its waitlist starting this week.