Coinbase Acquires Data Analytics Company; Allows Crypto Purchases Through PayPal

Coinbase Acquires Data Analytics Company; Allows Crypto Purchases Through PayPal

Coinbase, the largest cryptocurrency in the US, has announced that users can now buy digital assets on the platform via debit cards and bank accounts linked to PayPal and Venmo. However, this service only allows a limited amount of crypto purchases for now.

Normally, ACH and wire transfers take a long while to process. However, with a PayPal account, users can start carrying out transactions on Coinbase instantly. The user does not have to provide a bank account linked to Coinbase.

To purchase cryptocurrency using PayPal, it has to be selected as the payment method. Subsequently, you have to add a debit card to a bank account linked to the PayPal account and make a purchase, and is applicable only for $25,000 a day.

The PayPal crypto purchase option on Coinbase is only available to a few countries, including the US, Canada, the EU, and the UK.

Coinbase Acquires Skew
Meanwhile, Coinbase has just announced the acquisition of data analytics platform Skew, which would allow the company to deliver real-time actionable data analytics to institutions and traders.

 

This acquisition will help the company cater to more than 7,000 financial institutions and boost its prime offering. That said, Coinbase’s acquisition is subject to traditional closing conditions and is expected to close in the second quarter.

Skew, a London-based company was founded in 2018 and serves over 100 customers, including One River Asset Management and Susquehanna International Group.

Earlier this month, Coinbase became a publicly listed enterprise, with its share price hitting a peak of $430. At press time, COIN is trading at $294.77.

 

You can purchase crypto coins here: Buy Coins

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.