Coinbase Global, a digital currency exchange, is launching a new crypto-asset lending platform designed for larger institutional investors. The company has raised $57 million in capital for the platform, according to a recent regulatory filing. This move comes as the cryptocurrency sector gains momentum following a recent ruling that the US Securities and Exchange Commission (SEC) was wrong in denying Grayscale’s proposed Bitcoin exchange-traded fund.
Coinbase has also received approval to offer digital currency futures to retail clients in the US, marking a significant regulatory victory. In addition, the company has announced that users in Germany and the UK can now link their PayPal accounts directly to Coinbase to buy cryptocurrencies. This integration aims to provide a seamless and secure purchasing and withdrawal option for customers, making the process of acquiring crypto as easy as making a regular purchase.
Traditional financial mechanisms like wire transfers can be tedious and time-consuming, so Coinbase aims to offer quick and seamless methods for purchasing crypto. By partnering with PayPal, Coinbase allows users to buy crypto through PayPal with just a few clicks. Daniel Seifert, Vice President and Regional Managing Director, EMEA at Coinbase, stated that this partnership with PayPal aligns with Coinbase’s mission of increasing economic freedom and offers users a fast, secure, and convenient way to buy crypto.
PayPal, with its experience and expertise in the payment ecosystem, ensures transparency, performance, and security across its services. By using PayPal as a funding source, users can enjoy a familiar and reliable transaction experience when buying crypto. This integration with PayPal is expected to further streamline and simplify the process of acquiring cryptocurrencies for users.
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