Coinbase, the largest crypto exchange and wallet platform in the US, has introduced payment support with Paypal to its Canada-based clients.
“Coinbase customers in Canada can now instantly transfer sale proceeds directly into their PayPal accounts. Coinbase is committed to being the most trusted crypto exchange and want to give customers the ability to access their funds in a way that’s reliable and safe,” the exchange stated in its May 28 announcement.
The San Francisco-headquartered exchange first integrated Paypal for payments in 2016 as a beta only to its US-based customers. It fully rolled out payments and withdrawal service using the payment gateway in the United States and the European Union last year.
The company explained that Paypal’s payment gateway would provide “immediate access to funds,” and there will be no fees associated with the payment service.
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“Support for PayPal provides immediate access to funds through one of the world’s easiest and most widely-used payment platforms. Transferring sale proceeds into a PayPal account is fast and free — customers will incur no fees for such transfers,” the exchange added.
Becoming the leader in the global crypto market
Coinbase is on an expansion spree and recently entered 11 new territories in the Asia, Latin America, and Pacific region with its crypto trading services. However, offerings in those regions are confined to crypto-to-crypto trading. The exchange has also assured that it will extend its Paypal integration to other jurisdiction in the future.
The trading platform is also adding more and more coins to its listing and recently opened up XRP trading services to its New York-based clients.
Coinbase is known for its quality services and its reputation in the industry. Last month, the exchange revealed that it bought insurance coverage of up to $255 million to protect the funds stored in its hot wallets from any cyber attack.