Coinbase, a global payments giant, has recently announced a collaboration with PayPal to simplify the process of buying and withdrawing cryptocurrency for individuals in Germany and the United Kingdom. This partnership will allow users to instantly withdraw Coinbase balances directly to PayPal accounts, eliminating the need for traditional methods like wire transfers. Coinbase plans to expand this ability to other EU countries in the coming months.Daniel Seifert, the Vice President of Coinbase for Europe, the Middle East, and Africa, said that this partnership is part of Coinbase’s mission to increase economic freedom in the world by reducing the frictions of the legacy banking system. Coinbase users no longer need to manually input their banking details on Coinbase, as they can rely on PayPal to protect their financial data.PayPal has also recently launched its own dollar-backed stablecoin called PayPal USD (PYUSD) and a feature called “Cryptocurrencies Hub” that allows users to buy crypto using PYUSD in their PayPal account. Last week, Coinbase added PayPal’s PYUSD to its asset listing roadmap.

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Information	Details
Geography	Europe
Countries	🇩🇪 🇬🇧
Sentiment	positive
Relevance Score	8
People	Daniel Seifert
Companies	PayPal USD (PYUSD), PayPal, Coinbase Europe, Coinbase, and Africa,, Middle East
Currencies	Ethereum, US Dollar, Euro, Bitcoin, pound sterling
Securities	None