Coinbase, the digital bitcoin wallet company, announced Wednesday it now accepts PayPal and credit cards for bitcoin sells and bitcoin buys, respectively.
The company said in a corporate blog post that through the PayPal integration, Coinbase customers are now able to sell bitcoin and have their USD funds deposited into a PayPal wallet. Coinbase is currently offering PayPal cash-out service to U.S. customers only, though it hopes to add support to other nations as well as add support for bitcoin buys through PayPal.
Coinbase’s support for credit cards follows the launch of debit card buys in March, with the service expanding to all 50 U.S. states by the end of April.
Both the PayPal and credit card services are currently in beta, said Coinbase in the blog post. Over the next few weeks it will invite more users to each service, and plans to expand to more countries in the months to come.
Reporting on the development at Coinbase, Quartz said PayPal has been expressing interest privately in digital currencies. The publication points to a recently published patent application from PayPal that shows the company has researched integrating bitcoin and other digital currencies into physical smartphone payments.
According to sources, PayPal ran a hackathon in December with the goal of discovering new ways for it to use bitcoin and blockchain technology, reported Quartz. Among the attendees were Coinbase, Chain and Snapcard. The publication said developers experimented with things such as cross-border payments, merchant processing and building a digital wallet using bitcoin.
Logo courtesy of Coinbase