Kraken Embraces PayPal For Pivotal Crypto Shift In Europe, UK
Portfolio Pulse from Khyathi Dalal
San Francisco-based cryptocurrency exchange, Kraken, has announced its phased introduction of support for euro and British pound deposits through PayPal Holdings Inc. The funding option is currently available only on the Kraken mobile app for users in Europe and the U.K., excluding Hungary and Croatia. In the last month, Kraken added PayPal’s new stablecoin, PayPal USD (PYUSD) on its platform. Coinbase Global Inc also announced that its German and U.K. customers can use PayPal to buy crypto on the exchange.
September 07, 2023 | 2:20 pm
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POSITIVE IMPACT
Coinbase's expansion of PayPal integration to its German and U.K. customers could attract more users and increase its transaction volume.
Coinbase's expansion of PayPal integration allows its German and U.K. customers to buy crypto using PayPal. This could attract more users to Coinbase and increase its transaction volume.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
PayPal's partnership with Kraken and Coinbase could increase its user base and transaction volume, potentially boosting its revenues.
PayPal's integration with Kraken and Coinbase allows users to make deposits and buy crypto, which could increase the number of transactions on PayPal's platform and potentially boost its revenues.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80