Coinbase (NASDAQ:COIN) is now enabling investors to utilize PayPal in Canada. While a small improvement for Canadian users, this is emblematic of the ongoing integration of TradFi with the digital asset sector.
Prior to the new feature, Coinbase Canada users could use Interac e-Transfer, Electronic Funds Transfer (EFT), direct bank deposits, and debit cards.
Coinbase notes that there are around 10 million PayPal accounts in Canada. While not everyone will want to purchase crypto, by offering PayPal, it will make using Coinbase simpler.
Coinbase states that since launching in Canada in 2023, they have become the largest and first international exchange to be registered as a Restricted Dealer.
Coinbase states that crypto is the future of money, and they are bringing more Canadians to the “cryptoeconomy.”