With an official statement theexchange Coinbase stated that dedicated support for the DAI stablecoin has been added to be used as a payment method through the Coinbase Card.
Last week, a first announcement had already arrived from the Coinbase platform, concerning the expansion of the cryptocurrency to be used with the payment card of the same name. Among these were: StellarBrave, Ripple, Ox, Augur which was added to the already present Ethereum, Litecoin e Bitcoin.
Cryptocurrencies though with the Coinbase card can be used to make physical payments, of course they are subject to continuous market fluctuation. So in some situations, especially when there are contractions of price to pay with cryptocurrencies it could be inconvenient. For this reason the company has decided to expand its package by adding also a stablecoin or DAI, which always has a value of one dollar.
Let's make a small introduction, Coinbase's stablecoins are:
Now, not all the resources tradable on Coinbase are available on Coinbase Card and it is not said that they will become it, for this reason, since it is still necessary to have a fixed reference point (imagine you want to pay for a trip in bitcoin, go to the agency, you have just right the money and instead go to pay and it has dropped by 5% making your funds insufficient), DAI has been added.
It should also be remembered that the protocol of the stablecoin DAI of the multicollateral type which takes the name of SAI and which allows positions to be opened using other cryptocurrencies in addition to that of Ethereum as a collateral. In fact, at the moment, DAI has also added support to the Browser Brave token, BAT.
Last month, Coinbase had announced the listing of new cryptocurrencies for British users so as to allow the purchase and sale of cryptocurrencies using pounds without having to change them first in euros or dollars. And now comes the DAI stablecoin, for Coinbase users who are both inside and outside the Britain.
Coinbase Card it can be requested by directly downloading its dedicated application, after which you must connect to your account to use the funds that are in your portfolio on the exchange.
Certainly the choice of DAI by Coinbase, it is not accidental, in fact this stablecoin in the last period is getting more and more successful, in fact it has also been integrated in other services such as the Compound and the Eidoo system.