Important exchange of American cryptocurrencies Coinbase has introduced free cash withdrawals on the PayPal online payment system, according to an announcement published on December 14th.
From now on, Coinbase customers based in the United States will be able to withdraw their cash balances on Paypal. The service for other countries is expected to be implemented in 2019.
Coinbase and PayPal previously integrated in 2016, when Coinbase added support for the payment platform in addition to the major credit cards. At the moment, Coinbase users could sell Bitcoin (BTC) and have their credit funds deposited on a PayPal wallet. The integration was subsequently interrupted due to technical difficulties.
With this move, Coinbase has improved its range of services, which has been actively expanded in recent months. This month, the exchange began "exploring" the possibility of providing commercial support for 31 cryptocurrencies. The new possible additions include Ripple (XRP), EOS and Cardano (ADA). Coinbase "will work with local banks and regulators to add them to as many jurisdictions as possible".
As reported by Cointelegraph in September, Coinbase has announced a new process that will allow more digital resources to be listed faster. Issuers who wish to send token to Coinbase through the process just adopted must use a special form, which will then be evaluated by the exchange team based on their own digital asset.
In November, Coinbase launched over the counter (OTC) trading for institutional clients. Christine Sandler, Sales Manager of Coinbase, revealed that the OTC service will likely be associated with Coinbase Custody, a cryptocurrency service tool for institutional investors launched on July 2, 2018.
In March, PayPal filed a patent with the U.S. Patent and Trademark Office (USPTO) to increase the speed of cryptocurrency payments. The patent describes a "System of accelerated virtual currency transactions", which provides for the use of secondary private keys to shorten the waiting times for transactions between consumers and traders.