30Shift Card, the first U.S. bitcoin Visa debit card which allows Coinbase users to transact at over 38 million international merchants, has already processed more than US$1 million worth of bitcoin.
Since its launch in November, over 10,000 people have signed up for Shift Card, making the product one of the most successful applications launched by Coinbase to date.
According to the user data provided by the Coinbase team, the number of transactions processed by Shift Card spiked during the holiday season, processing over US$160,000 worth of bitcoin. The 7-day volume during the Christmas season surpassed the trading volumes of several popular bitcoin exchanges including Vaultoro and Bitcoin Central.
Since its transaction spike in late December, 2015, Shift Card has maintained a substantially high weekly volume of US$80,000 over the past few weeks.
Following the short term success of Shift Card and its increasing popularity, the Coinbase team plans to expand the reach of Shift Card to other states.