Happy Humpday, Blockfolians
Lots and lots of news around using crypto for retail purchases recently. Last week, we heard about PayPal’s forthcoming crypto offering that will include not only buying and selling cryptos but eventually integration with their 26m strong merchant network.
Today, we’ve learned that the Coinbase Visa debit card - previously only available to users in the UK and EU - is coming to America.
Any crypto that Coinbase uses can be spent via the card. Of course, there are some questions.
First, in the US crypto is treated like property, not currency, which means each purchase could be a taxable event.
Second, there is the question of how much users actually want to spend their crypto.
Still, while these concerns are real - we’re with Bobby: the more options, the better.
Coinbase @coinbaseCrypto, meet Coinbase Card. Now in the US you can spend the crypto in your Coinbase account everywhere Visa® debit cards are accepted and earn up to 4% back in crypto rewards. Terms apply. Join the waitlist today: https://t.co/Qg7LGDqrgn https://t.co/DsbeX2Qm5o
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Highly Relevant Reading
Avanti joins Kraken in getting a Wyoming SPDI banking license
Former BitLicense head to manage A16Z crypto
Cambodia’s central bank has launched a Hyperledger-based payment system
BlockFi holds over 5% of Grayscale’s Bitcoin Trust shares
CBDCs are not the same thing as cryptocurrencies
Jack’s prepared statement at today’s Section 230 hearing on social media companies and censorship
A Really Big Number We Should Be Paying Attention To
That’s the current amount of assets under management for Bitwise - the growth reflecting increasing crypto confidence among institutional investors