Just one week after PayPal announced it would open its platform to cryptocurrency, Coinbase and Visa have announced a cryptocurrency debit card that is linked directly to a Coinbase account, eliminating the need to load crypto onto the card before using it. Coinbase has 34 patents and applications in cryptocurrency, most of which are for payment systems and infrastructures. The new card supports more than 30 different cryptocurrencies. One of Coinbase's recent patent applications consolidates withdrawals from multiple cryptocurrency accounts, which is vital to Coinbase's platform and the new debit card.
Visa is active in the cryptocurrency space, with 87 patents and applications. Visa also runs the Fast Track program, which allows blockchain and cryptocurrency companies to integrate their technologies into Visa's existing infrastructure. Clearly, these collaborations are benefiting Visa greatly by allowing the company to bring its well-known payment cards into the cryptocurrency age. You can view more insights on cryptocurrency and how patent activity drives product innovation with the Magic Number® Cryptocurrency Patent Forecast®.