In an October 29 announcement, global credit card giant Visa unveiled a partnership that will enable real-time money transfers between traditional banking and cryptocurrency services using the Visa Direct network.

“This partnership adds convenience and new services for Coinbase customers in the US and EU, including the ability to move money securely and reliably in real time,” the announcement said.

Day and Night Trading

The announcement also said that Coinbase customers will be able to deposit funds into their Coinbase accounts in real time using eligible Visa debit cards.

The Visa Direct network enables fast and secure money transfers, further bridging the gap between traditional finance and blockchain technology and helping to minimize waiting periods for funds to be available.

Yanilsa Gonzalez Ore, head of Visa Direct in North America, noted that “Coinbase users with an eligible Visa debit card know they have trading capabilities day or night.”

Meanwhile, Coinbase Senior Director of Product Management Akash Shah added, “Bringing this feature to our customers is in line with our mission to advance economic freedom around the world.”

The collaboration between the two companies began in 2020, when Visa approved Coinbase as a “premier member” to improve the customer experience. The latest development expands on their existing relationship, which includes the Coinbase Visa debit card for U.S. customers.

The crypto industry has often struggled to break into traditional banking and payment systems due to concerns about market volatility and industry scandals. However, as crypto regulations become clearer around the world, some of these concerns may be mitigated.

Additionally, crypto regulations “may be tightened in the U.S. by the next administration,” Bloomberg reports. Coinbase is among the many crypto firms that have spent millions influencing presidential elections through donations.

Coinbase Earnings

Coinbase Global is set to report third-quarter earnings on Wednesday, Oct. 30. Analysts expect the company to report earnings of 45 cents per share, up from 14 cents per share in the second quarter, according to reports .

They also expect trading on the platform to stagnate in the third quarter, as markets remained sideways for much of the quarter.

The company’s shares (COIN) are up 1.65% on the day, trading at $221 in after-hours trading, according to Google Finance. Coinbase shares are up 40% year-to-date, but remain 35% below their November 2021 peak, which coincided with the latest crypto bull market high.

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