Analysis

Coinbase customers in the EU and the European Free Trade Association (EFTA) countries can now make withdrawals into their PayPal accounts.

The San Francisco-based cryptocurrency exchange announced the news Tuesday, explaining that, until now, European customers have had only Single Euro Payments Area (SEPA) and UK Faster Payments options available for withdrawals.

The expanded service means customers of 32 European countries will now have the PayPal withdrawal option, with a total of 28 member countries in the EU and the four nations of the EFTA: Iceland, Liechtenstein, Norway and Switzerland. Support for the option in other nations will continue to be added this year, the firm said.

Customers can link their PayPal accounts to their Coinbase account and select the payment option when withdrawing cash balances.

Last December, Coinbase reinstated PayPal support for U.S. customers after having ceased offering the service due to technical issues. The service first launched in June 2016.

Coinbase image via Shutterstock 

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