Coinbase continues to explore its options in the cryptocurrency space. That also includes adding support for digital assets in any way possible.
As far as the Coinbase Card is concerned, it has now received DAI stablecoin functionality.
A Different Asset for the Coinbase Card
It is the first time any stablecoin is supported on this payment card issued by the popular company.
One could argue there are far more popular coins on the market, such as Tether’s USDT.
However, that currency is not suited for the Coinbase card for a variety of reasons.
The main reason being how it is not supported by Coinbase or any of its platforms and services right now.
In the blog post, the company explains DAI is an alternative for those who want to spend digital assets without much volatility.
As is the case with stablecoins, they are designed to always maintain their peg to the US Dollar.
Especially now that Christmas shopping is on the horizon, this stablecoin support can be rather interesting to explore among Coinbase Card holders.
It is interesting to note how this card has supported for a fair few digital assets right now.
One has to wonder if other crypto debit cards will receive stablecoin support as well in the future.
This development creates a very intriguing precedent for the cryptocurrency industry as a whole.