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Coinbase Becomes First 'Pure' Crypto Firm Approved as Visa Principal Member
The San Francisco-based cryptocurrency exchange will have the power to issue payment cards thanks to its new status.
Updated May 9, 2023, 3:06 a.m. Published Feb 19, 2020, 11:30 a.m.
Coinbase, the San Francisco-based cryptocurrency exchange, has been made a Visa principal member.
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Announcing the news on its blog Wednesday, the firm said the news marks it as the "first pure-play crypto company" to be approved by the credit card giant.
Coinbase has been working with Visa since 2019 when it launched its Coinbase Card in the UK. The debit card allows users to spend cryptocurrency as cash anywhere Visa is accepted. The card has since been made available in 29 markets with 10 cryptocurrencies supported.
Principal members of Visa are financial institutions authorized to issue some types of payment cards. In theory, Coinbase could issue cards to other crypto companies, though it's not clear if it plans to use that power immediately.
Discussing the Visa approval, Coinbase said that "membership will enable us to offer more features for Coinbase Card customers; from additional services to support in more markets — all elements that will help to evolve and enrich the cryptocurrency payment experience."
According to Forbes, the status was granted to Coinbase in December but has just been announced.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
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- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
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