Coinbase has announced the expansion of its Easy Bank Transfers to the Netherlands, making Open Banking payments available to Dutch customers. Launched in partnership with the European Open Banking payments network, TrueLayer, Easy Bank Transfers allow customers to make deposits to their Coinbase accounts.

Connecting directly to users’ bank accounts, these payments auto-populate customers’ financial information, minimising the need for manual data entry. As per the press release, Coinbase has stated that the result is a less error-prone process that reduces the risk of payment failure and makes deposits easier for its customers. Moreover, users can also benefit from an efficient customer experience, authenticating payments directly through their mobile banking apps.

The process leverages payment rails to make funds available to users in minutes, allowing customers to make crypto transactions on their schedule. The companies have stated that Easy Bank Transfers will become available to all users in the Netherlands, shortly after this announcement in September 2023. About Coinbase and its recent developments Coinbase is an online platform for buying, selling, transferring, and storing cryptocurrency.

Based in the US, the company's idea is that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Coinbase aims to provide an easy-to-use platform for accessing the broader crypto economy. In September 2023, Coinbase revealed its plan to launch a lending platform aimed at large institutional investors.

The company was set to introduce a digital asset lending platform targeted at large institutional investors. The launch of Coinbase's crypto-lending platform had been backed by a total of USD 57 million in funding. In August 2023, Coinbase launched in Canada, backed by the integration of Interac payment rails, with banking and payment partners, enabling fund transfers and introducing Coinbase One.

The decision for Coinbase to expand into the Canadian crypto landscape was driven by a myriad of factors, as Canada is ranked as the world's third-most crypto-aware nation and has an enthusiastic local tech ecosystem. This sentiment was also reinforced by the Ontario Securities Commission's survey, indicating that over 30% of Canadians are poised to venture into the world of crypto assets within the year. About TrueLayer TrueLayer is an Open Banking payments network.

It aims to provide safer and faster online payments by combining real-time bank payments with financial and identity data. Businesses big and small use its products to onboard new users, accept money, and make payouts. TrueLayer operates in 21 countries, with over 10 million users worldwide.

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