Coinbase Card Now Supports DAI Stablecoin

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.

crypto powered debit card

According to the Coinbase’s official website, Coinbase Card now supports a total of 10 cryptocurrencies including:

  1. Bitcoin (BTC)

  2. Ether (ETH)

  3. Litecoin (LTC)

  4. Bitcoin Cash (BCH)

  5. Ripple XRP

  6. Basic Attention Token (BAT)

  7. Augur (REP)

  8. 0x (ZRX)

  9. Stellar Lumens (XLM)

  10. Dai

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

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