The Coinbase card is looking to make cryptocurrencies easier to pay with.

Over a long time, Bitcoin and other cryptocurrencies such as Litecoin, Ethereum, and Ripple’s XRP have been criticized that they are hard to use and spend in the real world compared to fiat currency.

Last week, the price of Bitcoin surged to $5,000, but due to its volatility and instability, BTC is still not considered the best means of payment. Bitcoin is thus considered to be a store of value just like gold instead of being an exchange currency.

However, these perceptions are about to change following the teaming up of Bitcoin and Coinbase with Visa. The aim of the collaboration is to try and change the criticism surrounding cryptocurrency with the launch of the Coinbase Card that will allow users to spend cryptocurrency effortlessly like traditional fiat currency in the bank.

Coinbase Card Could Be Used to Spend Bitcoin

Coinbase’s Visa debit card can be used with Bitcoin, Litecoin, Ethereum, and Ripple’s XRP in various locations across the globe. When the card is used, it converts Bitcoin to fiat currency, and the store or merchant receives the pay in fiat currency.

Using the new app, users will be able to choose their preferred cryptocurrency on the card. The card has the capability of backing all crypto assess available on the Coinbase platform. Users will be able to monitor their spending as the new app is able to produce receipts, spending and transaction details.

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“This is the first debit card to link directly with a major cryptocurrency exchange, allowing people to spend their crypto balances direct from their Coinbase account,” Coinbase said in a statement, announcing the launch of the card. “Previously available crypto cards required users to pre-load a specified amount of crypto onto their card, adding a point of friction to the process.”

The card is available in the UK, and Coinbase plans to launch it in other countries across Europe. The service will not be available for users outside of Europe. However, US Coinbase users will get to spend Bitcoin from their accounts through Apto payments, which is providing Coinbase with the technology.

The poaching of Christine Sandler by Fidelity Digital Assets from Coinbase is great news for Bitcoin and other cryptocurrencies eyeing institutional support.

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In the news making headlines in the cryptocurrency industry, Harvard University Endowment has made an investment in the crypto token sale of Blockstack.

Blockstack Offering 95.83 million Crypto Tokens

A filing made with the US Securities Exchange Commission listed designees affiliated to the Havard Management Company including Charlie Saravia, Rodolfo Gonzalez, and Zavain Dar who have been participating in the purchase of 95.8 million Blockstack tokens, worth $11.5 million. Although it’s not clear how much the Harvard University Endowment has purchased, it is, however, the first time a major endowment has invested in cryptocurrency.

In a tweet, Anthony Pompliano of Morgan Creek Digital indicated that Havard Endowment had directly invested $5 million to $10 million in the Blockstack token sale.

This investment from a leading university is going viral, and it’s a move that will hopefully encourage other institutional investors to invest in crypto tokens as well. The attitude is building up, and this will encourage investors to try small crypto tokens such as TCAT tokens.

Institutional Investors Seeking Regulated Custodians

Institutional investors have been hesitant about getting involved in the crypto market and with major assets such as Bitcoin, the reason being crypto’s lack of regulations. Even when Bitcoin was on a bullish run in 2017, achieving a price of $20,000, there were no regulated investment channels or custodial solutions that could encourage the institution to invest in crypto. In 2018, however, the trend began to change, and institutional investors have slowly started dripping their toes in the crypto waters.

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Pantera Capital CEO, Dan Morehead, indicated that the crypto industry has been empowered with the necessary infrastructure and it can now handle large money from institutions. He added that institutions are concerned about having a well-regulated custodian, something that the crypto industry has yet to attain.

Blockstack CEO, Muneed Ali, stated that once the offering gets approved, it will be the first-ever SEC-qualified crypto token of its kind. He adds that proceeds from the offering will be put in the development of their decentralized app ecosystem.

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