Friday , November 15, 2019

Eye on Cryptocurrency: Demise of a Visa Card; Crypto for Truck Parts; a Calmer Bitcoin

A Visa-branded debit card from Shift Financial Inc. that enabled consumers with accounts at digital currency exchange Coinbase to spend based on funds held in their Coinbase accounts reportedly will cease operations in April, said the news site.

The card, issued by Metropolitan Commercial Bank, reportedly faced a limited market and flagging demand, the site reported. No further information about the decision was immediately available.

Also on Monday, a company that sells truck parts online and over the counter said it will start accepting a range of cryptocurrencies including Bitcoin, Bitcoin Diamond, Dash, and Ethereum. 

Meridian, Idaho-based ATPTrucks said it will rely on a cryptocurrency platform provided by Chimpion, a provider of e-commerce tools designed to support crypto.

Bitcoin in particular has enjoyed what for it is a fairly long period of relative calm in its price after a highly volatile 2018. Since Thanksgiving, the price has fluctuated within a range between the low and high $3,000s, with a couple of spikes above $4,000, according to As of mid-morning Monday, it was trading at just over $3,900. 

By contrast, the digital currency a year ago was trading near $11,000 before sliding throughout most of the succeeding months.

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