Coinbase, a California based cryptocurrency exchange has enabled the option of free PayPal withdrawals for various fiat currencies. This was a quiet and swift move from the exchange and includes withdrawals of currencies like USD, EUR, and GBP, reported Beingcrypto.
The publication also added that this secret update will allow users to withdraw the above mentioned fiat currencies free of charge to their PayPal account.
However, Coinbase has not officially announced about this enabled feature on their website or through their social media handles. Although, it has sent e-mails to eligible users, reported the publication.
The option for charge free withdrawals is only availed by a handful of regions, like US, UK, EU, and Canada. As of now, Coinbase provides wallets for USD, GBP, and EUR, but this addition may indicate inclusion of CAD and AUD wallets.
Meanwhile, the users in Canada and Australia do not have access to withdrawal through PayPal but are provided the option to sell their digital assets to CAD or AUD respectively. However, this option is exclusive only to the users of Canada and Australia and not for any other region.
In order to enable this option, the users have to verify their identities, following which, they will receive and e-mail of confirmation, reported the publication.
This move is a small one facilitating withdrawals. Additionally, this might also mean that the option for PayPal deposits might be underway.
This decision came in shortly after Coinbase declared its plans for global expansion, which was followed by its $300 million Series-E funding round and the addition of the new stable coin Circle to it exchange list.
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