Coinbase Card from major crypto exchange Coinbase now supports Dai (DAI), a stablecoin pegged to the United States dollar.
On Dec. 6 a blog post was published stating that Dai is the first stablecoin available on Coinbase Card, alongside major cryptocurrencies:
Bitcoin (BTC) and Litecoin (LTC)
Buy with DAI: our 10th asset — and first stablecoin — is now available on #CoinbaseCard pic.twitter.com/SCLiJDYubc — Coinbase Card (@CoinbaseCard) December 6, 2019
The addition of the stablecoin to the Coinbase Card will allow customers to spend crypto with less volatility, as 1 DAI is equivalent to $1.
According to Coinbase’s head of growth marketing, JD Millwood, the addition of DAI is not just one more asset to spend but a tool intent on boosting the global adoption of alternative payment methods.
Millwood adds:
“It represents a small step on our big journey to make crypto accessible to all, through alternative payment options that suit our diverse customer base.”
Coinbase- A Crypto-Powered Debit Card
Coinbase Card is a Visa debit card that allows cryptocurrencies transactions to pay for goods as well as to withdraw cash from ATMs. It’s a crypto-powered debit card that instantly converts customers’ crypto into fiat currency.
<img width="1024" height="410" src="https://www.cryptonewspoint.com/wp-content/uploads/2019/12/1_-RvGZNRzl9qkrkzkPLAIRg-1024x410.png" alt="crypto powered debit card" class="wp-image-6801 lazyload" />
According to the Coinbase’s official website, Coinbase Card now supports a total of 10 cryptocurrencies including:
In June, the card was launched in six European countries including Spain, Germany, France, Italy, Ireland, and the Netherlands.
Source: Coinbase| Cointelegraph Image Credits: Coinbase | Getty Images