Coinbase will now allow customers to purchase cryptocurrencies using PayPal.
The company said that all US-based customers will now be able to have their bank accounts linked to their PayPal accounts or use a debit card to complete such purchases.
As a result, customers will be able to avoid automated clearing house and wire transfers to buy their preferred cryptocurrency.
Coinbase has explained that all purchases are instant and no information will be revealed regarding a customer's bank account or general financial information.
The service will start in the US but will expand globally, Coinbase assured. The company already has 6.1 million active users every month and PayPal has a global customer base of around 377 million.
The tie-up between the two financial giants makes sense. Coinbase made a direct listing on NASDAQ and is worth $5bn.
PayPal on the other hand announced support for cryptocurrencies as early as 2020 and said it would empower merchants to accept payments in crypto, subject to the company's own conversion rates.
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