Coinbase Up After Google, Apple Debit Card Agreement

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Coinbase Up After Google, Apple Debit Card Agreement
Credit: © Reuters.

By Christiana Sciaudone

Investing.com -- Coinbase rose more than 2% after the company announced its card can be used with Apple (NASDAQ: AAPL ) Pay and Google (NASDAQ: GOOGL ) Pay.

Starting this week, select customers will be invited off of a waitlist to get a Coinbase debit card, earning up to 4% back in crypto rewards.

It's a welcome bump for the cryptocurrency exchange platform, which is down about 25% since going public in April. The company slipped alongside bitcoin, which dropped more than 40% in that time.

According to Coinbase, mobile phone payments rose 29% in 2020. PayPal Holdings Inc (NASDAQ: PYPL ) (PYPL.O) said on Wednesday it plans to allow users to withdraw cryptocurrency to third party wallets.

Last week, PayPal said it will allow users to withdraw cryptocurrency to third party wallets. It opened its platform to the currencies in October, Reuters reported.

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