Connect with us

Coinbase working on its own Debit card, announces Brian Armstrong

Biraajmaan Tamuly

Published

on

Coinbase working on its own Debit card, announces Brian Armstrong
Source: Pixabay

Coinbase, a digital currency exchange from San Francisco, recently via an AMA session on Youtube announced that the company is working on its own debit card for US customers. 

In the AMA session he also addressed topics like, community trust rating for altcoins, fraud prevention. The debit card news was confirmed but no specific dates were given to the audience. Coinbase also last month launched a debit card based on Visa,which will let customers purchase in store or online by using their crypto balance. 

The Coinbase card with the expense-managing app, is already available in the UK and it is not going to be too long for it to reach the US as well, says Armstrong. Coinbase Pro will also include margin trading which is one of the most used features by its customers, he added.

Armstrong also quoted:

“This is one of those products where you have to innovate not just on the technology, but also in the regulatory side.”

“Borrowing” money through exchanges is possible with margin trading with the possibility of high yield traders undertake a huge risky investment. 

Japan has stricter regulation for crypto margin trading, applying restriction like caps and more already present leverage and requiring exchanges which supports the registering feature with financial regulators.

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.