Online payment platform PayPal has partnered with cryptocurrency exchange Coinbase on regulatory compliance in the crypto industry.
According to the statement made by Coinbase on August 22, payment giant PayPal has announced that Coinbase Travel Rule Universal Solution Technology (TRUST) is included in the network. The TRUST network is a network that prioritizes the security and privacy of customers and Travel Rule It is known as a global, industry-focused solution designed to increase compliance with a requirement known as
The digital payment giant, which has been serving millions of customers for 20 years, wants to make its technology more secure and useful, and meanwhile in compliance with US law plans to move forward.
While there were only 18 company memberships on the TRUST network at the beginning of 2022, this number is increasing day by day. Finally, with the addition of Paypal, it is known that the number of companies included in the TRUST network has increased to 38. Among other popular companies on the network that benefit from the services Binance.US, Crypto.com, Gemini and Kraken such as cryptocurrency exchanges.
PayPal announced in October 2020 that it was launching cryptocurrency transactions. Not satisfied with this, PayPal expanded its work on the sector and started last June. cryptocurrency withdrawals and deposits announced that it has made it available to its users.