The main American cryptocurrency exchange, Coinbase, has implemented a cash withdrawals to online payment system PayPal, based on an article.
Now, United States-based customers can enjoy now the new PayPal withdrawal option on Coinbase. This new service will be available for other countries in 2019.
The first steps
In 2016, Coinbase integrated PayPal, when the crypto exchange added support for the payment system next to credit cards. After the integration, its users were able to use PayPal wallet. The goal is to receive their fiat funds after selling cryptocurrencies. As a result of technical difficulties not long after the launch, Coinbase stopped the cooperation.
In the past months, Coinbase exchanged its services. And at the same time the range of it become wider. Recently, the exchange is exploring the trading support in this month for 31 cryptocurrencies. Moreover, the website is planning to add Ripple (XRP), EOS and Cardano (ADA). Coinbase “will be working with local banks and regulators to add them in as many jurisdictions as possible.”
Furthermore, on an article from September, Coinbase reported a new process. It will give the possibility to list more digital assets faster. Coinbase will have a special form for the issuers who want to use the newly adopted process. After the apply, the exchange team will check the coins against their digital asset framework.
Coinbase launched over-the-counter (OTC) trading for business customers in November. The head of sales at the firm, Christine Sandler, said that the OTC service probably will be combined with Coinbase Custody, a service launched on July 2, 2018 for business investors.
PayPal granted a patent with the U.S. Patent and Trademark Office (USPTO) to make faster transactions with cryptocurrencies. The patent describes an “Expedited Virtual Currency Transaction System”, contain the use of secondary private keys to shorten wait times for transactions between consumers and merchants.
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